Bank account/property/investments held outside the UK you've not told HM Revenue & Customs about

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elsie
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Bank account/property/investments held outside the UK you've not told HM Revenue & Customs about

Post by elsie » Sat Jul 14, 2018 1:38 pm

There was an item on BBC Radio 4 Money Box at lunchtime https://www.bbc.co.uk/programmes/b0b9tsjt which included:
If you have a bank account, a property or investments held outside the UK and you've not told HM Revenue & Customs about them, then you have just a couple of months to let them know, or you could face hefty penalties. John Barnett, Head of Private Client and Tax at the law firm, Burges Salmon, discusses the developments. I assume there will be a fuller transcript later in the week?

I was only half-listening but I think it refers to the ‘Worldwide Disclosure Facility’ aimed at encouraging taxpayers to put their tax affairs right if they have not declared all of their UK tax liabilities that relate to offshore income or gains. More information at https://www.litrg.org.uk/latest-news/ne ... d-overseas

The in the official UK Goverment/HMRC web site Make a disclosure using the Worldwide D ... e Facility

It seems to apply to those who are tax resident in the UK but have bank accounts/income/etc anywhere else in the world (and is probably no different to the French 3916 tax form declaration for those resident in France).

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