ASIA ADVISORY SERVICES GROUP | BDO PRIVATE CLIENT SERVICES 16
TAX DISPUTE RESOLUTION
We work closely with our Tax Dispute Resolution (TDR) team which offers a variety of services to a broad range of clients who are seeking resolution with HM Revenue & Customs (HMRC) in respect of their tax affairs.
OFFSHORE DATA X HMRC is tasked with raising £4.7bn over 5 years so we expect that HMRC will continue to focus heavily on ‘offshore non‑compliance’ X Further batch of ‘nudge’ letters sent out recently by HMRC after processing data received from overseas tax authorities under the Common Reporting Standard X In 2019, HMRC received information about the offshore financial interests of approximately 7.6 million offshore financial accounts and continues to receive further information each year. HMRC is working through this information to detect non-compliance X Letters follow on HMRC’s Requirement to Correct (RTC) campaign, which was a statutory obligation for taxpayers with overseas assets to correct any issues with their historic UK tax position X Under RTC, taxpayers were legally obligated to take steps to correct their UK tax position by 30 September 2018. Now in ‘Failure To Correct’ regime and increased penalties.
THEWORLDWIDE DISCLOSURE FACILITY TheWDF remains open for voluntary disclosures relating to offshore income and gains X We can advise on whether a voluntary disclosure is required and if so, whether any disclosure facilities or current campaigns offered by HMRC would be appropriate. Our clients are made fully aware of all options available to them, the risks involved and how we can help to minimise those risks and reach a resolution with HMRC X We have unparalleled experience of assisting clients in making voluntary disclosures to HMRC in respect of both onshore and offshore matters X BDO offers a bespoke service where we manage the liaison with HMRC and prepare the disclosure. We also offer valuable input on the potential penalty position, especially in light of the harsher levies on offshore non-compliance.
WE CAN HELPWITH THE FOLLOWING: X Voluntary disclosures concerning both offshore and onshore matters X Serious tax investigations including Code of Practice 8 and Code of Practice 9 (Contractual Disclosure Facility) X HMRC compliance checks and self-assessment enquiries X Tax avoidance arrangements including Follower Notices (FNs) & Accelerated Payment Notices (APNs)
X Litigation, Consultancy and Expert Witness X Mediation – Alternative Dispute Resolution X Appeals, including internal reviews X Technical advice on HMRC powers and penalties X Time to Pay Arrangements X Assisting professional advisers.
Made with FlippingBook HTML5