Helping agents to get Worldwide Disclosure Facility right the first time - HMRC update

HMRC provide details of their upcoming Talking Points meeting on the Worldwide Disclosure Facility (WDF) and Requirement to Correct.

"HMRC is getting tougher on those individuals not paying the right amount of tax on their offshore income and assets. On 31 August, HMRC’s Risk and Intelligence Service (RIS) Campaigns, Fraud Investigation Service and the Centre for Offshore Evasion Strategy will hold a Talking Points meeting to provide agents with a clear understanding of the technical aspects of the Worldwide Disclosure Facility (WDF) and Requirement to Correct. We want to help you to support your clients to make disclosures and get it right first time, and you too can play your part.

The session will cover:

  • tax implications of offshore property and rental
  • tax implications of offshore investments and dividends
  • exchange rates to use when converting offshore income to Sterling
  • offshore penalties – the different levels of penalties for offshore income
  • non-statutory clearance
  • Requirement to Correct

Th‌ur‌sd‌ay 3‌1 Au‌gu‌st - m‌id‌da‌y to 1p‌m   Register now

Technical experts will be available to answer any questions.

We would appreciate help from any agents, companies and businesses in signposting your contacts to this Talking Points. If you are made aware of tax due, you can point agents or customers to make a disclosure at Worldwide Disclosure Facility: make a disclosure

Target audience

This meeting is for agents with clients whose tax will be affected by the WDF, ahead of the Requirement to Correct coming into force. 

For those unable to dial into the Talking Points on 31 August, it will be available to view after the event."   

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