The requirement to make a voluntary disclosure can arise in a wide range of circumstances; from a single innocent mistake in a tax return, where no penalty should be due, through to cases where there might have been a history of deliberate understatement of tax that needs to be rectified.
HMRC are regularly launching new campaigns aimed at encouraging taxpayers to bring their tax affairs up to date. These campaigns usually offer slightly beneficial settlement terms in comparison with other voluntary disclosures.
Different circumstances call for different treatment. We can advise you on the most effective way to approach HMRC and make a disclosure.
For a free, confidential discussion to explore how we might be able to help, please contact us.