voluntary disclosure related questions

1) if someone has both onshore and offshore affairs to disclosure, is it best to make seperate discoslures, or a single offshore disclosure (e.g. by worldwide disclosure facility), with different penalites applied for onshore and offshore potential lost revenue(PLR)? 2) for the offshore disclosure, if there is some foreign dividend or interest that hasn't been reported, but won't results in any PLR, would these still need to be disclosed? Thanks!

Hi,

You can see guidance here, including the various contact numbers.

Make a voluntary disclosure to HMRC

Thank you.

Dear HMRC, I received a nudge letter about overseas interests and have contacted the Worldwide Disclosure Team. In the telephone call, I was given a total sum of interests/income which I was reported to have received overseas as well as the names of financial institutions involved. Have checked relevant bank statements and the sum I had calculated is significantly different from HMRC's records. I am worried that there could be technical issues involving currency conversion from savings denominated in different currencies. Questions I wish you to help with. 1) Could HMRC issue a statement or letter to confirm the amounts of interests I was reported to have received by different institutions? When I queried the overseas bank, they insisted that they would only submit figures which were displayed on my statements, and would only accept a complaint if there is a formal document which says that I had received different amounts from them. 2) Has HMRC seen any instances where there are indeed genuine errors with CRS reports from other banks outside the UK? If yes, how are these discrepancies usually managed and resolved? 3) I have volunteered to submit financial documents/statements to the Worldwide Disclosure Team but they advised that they would not check them and would simply return them to customers. They insisted that it is customers' responsibilities to declare the correct sums of interests received overseas. Thank you

Hi,

You will need to conatct the Worldwide Disclosure team for advice.

Offshore Disclosure Facility

Thank you.