Specialist accountants for undeclared offshore income
If you've got overseas income, gains or pensions you haven't declared to HMRC, we'll help you understand where you stand, work to reduce your exposure to penalties, and put your tax affairs right, confidentially.
Ahmer Khan, FCCA19+ years in accounting, specialising in HMRC offshore disclosures
Does this sound familiar?
- I didn't realise I had to declare overseas income.
- I'd already paid tax overseas, I didn't think I needed to declare it in the UK too.
- I'm having sleepless nights worrying about what happens next.
- I've had a letter from HMRC, a "nudge" letter, or a formal discovery, and I don't know what to do.
- What am I actually going to have to pay, in tax and in penalties?
If any of that sounds like you, you're not alone, and there is a way forward. Here's how we can help.
What changes once we're on it
Working to reduce your penalty
In the most serious cases HMRC can charge up to 200% of the tax owed. We prepare and present your disclosure to put you in the strongest position to keep any penalty as low as the rules allow.
A properly made disclosure
We deal with HMRC directly, through the right route, aiming to bring the matter to a proper close.
Clarity and peace of mind
Once it's in our hands, you'll know where you stand and what happens next.
Most accountants see an HMRC offshore disclosure once or twice in a career. We handle them multiple times every year.
The route you disclose through, and how it's worded, can affect the penalty HMRC settles for. We know the reliefs, the arguments and the paperwork that can help reduce a client's exposure, and how HMRC assesses these cases in practice, not just the theory.
One client's disclosure, in real numbers
Handled badly, or not at all
HMRC found the income first, making it a prompted disclosure. Their view was that it looked deliberate: tax owed over £200,000, with penalty exposure of up to another £400,000, which is 200% of the tax, on top of interest.
Handled by us
In this case we managed the disclosure and negotiated a settlement on more favourable terms than the worst-case exposure.
Every situation is different, and outcomes can't be guaranteed. On the call we'll explain what may apply to you.
Who we work with
You've had a letter from HMRC
A nudge letter, a formal discovery, or a request for information. This is a prompted disclosure, and the clock is already running, so how you respond matters.
You want to come forward first
You know there's something to declare and you'd rather deal with it on your terms than wait for HMRC to find it. This is an unprompted disclosure.
HMRC is likely to find out, sooner or later.
This isn't scare-mongering, it's how automatic reporting between tax authorities already works.
"Over 100 countries have committed to exchange information on a multilateral basis under the Organisation for Economic Co-operation and Development's Common Reporting Standard (CRS). The CRS increases international tax transparency."
In practice, that means your bank, broker or pension provider overseas may already be reporting your account details to HMRC every year, automatically, whether you've declared the income or not. The real question is whether you get ahead of it, or wait for HMRC to get in touch first.
We get it. Finding out you owe HMRC money you didn't know about is frightening, especially when your family's security is what's at stake.
You're not a criminal. You're someone who didn't know the rules, or trusted advice that turned out to be wrong. Our job is to help put it right properly, deal with HMRC on your behalf, and give you clarity about where you stand.
How we've helped clients like you
Offshore disclosure is sensitive, so most clients prefer their details stay private. These two are anonymised with the client's permission. Every case is different, and past results are not a guarantee of future outcomes.
15 years of undeclared income, worldwide
A client had unreported interest, rental income and property gains from around the world, going back 15 years. HMRC found out first, making it a prompted disclosure, and in HMRC's eyes that looked deliberate. We helped the client reach a settlement on more favourable terms.
"I would have had a nervous breakdown, with irreparable consequences for my family life, had it not been for the timely support and the outcome achieved."
A decade in the UK, and US income HMRC didn't know about
A US client living in the UK for ten years had overseas income from vested employee shares and US retirement pensions. Assuming US tax and his employer's payroll covered it, he later learned UK residents must declare worldwide income, and came forward himself.
A settlement was reached on favourable terms, helping protect his retirement savings.
"He gave very straightforward advice, and I would highly recommend him."
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How it works
Book a confidential call
Tell us what's happened, in plain English. No judgement, no obligation.
We assess your exposure
We work out exactly what needs declaring, and what it's likely to mean in tax, interest and penalties.
We handle the disclosure
We deal with HMRC directly, through the right route, and negotiate the best outcome we can.
The Offshore Disclosure Guide
What a Nudge letter really means, and what to do next.
Not ready to talk yet? Start with HMRC's own guidance on the Worldwide Disclosure Facility.