Torr Waterfield explain HMRC's Worldwide Disclosure Facility.
This is a facility that the Inland Revenue introduced in 2016 which allows the voluntary disclosure of any UK tax liabilities that relate to offshore income or assets, which have not previously been disclosed to the UK tax authorities, to be declared.
Income arising from a source outside the UK
Assets situated or held outside the UK
Activities carried on wholly or mainly outside the UK
Where the funds connected to unpaid tax are transferred outside the UK
The facility applies to all tax years up to and including 2015 to 2016.
If HMRC has sent you a tax return for that year, or any tax year from 2013 to 2014 which is still outstanding, you must complete the return and you must not include these tax years on this disclosure form.
By contacting the Inland Revenue, rather than the Inland Revenue contacting you, the penalty regime will be less harsh.
If you think that the above applies to you then please get in touch with Torr Waterfield as soon as possible so that the Inland Revenue can be notified.