Poole Office: 01202 678555

Wimborne Office: 01202 849169

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Worldwide Disclosure Facility
04/05/2017

The Worldwide Disclosure Facility (WDF) was launched in September 2016 and is open to anyone who wants to disclose a UK tax liability that relates wholly or partly to an offshore issue.

An offshore issue includes unpaid or omitted tax relating to:

  • income arising from a source in a territory outside the UK;
  • assets situated or held in a territory outside the UK;
  • activities carried on wholly or mainly in a territory outside the UK;
  • anything having effect as if it were income, assets or activities of a kind described above.

Under the legislation certain financial institutions, tax agents and tax advisers in the UK are required to write to certain taxpayers with money or assets abroad. The notification letters must be sent to relevant clients between 30 September 2016 and 31 August 2017.

Any taxpayers that receive a ‘notification letter’ need to check their tax affairs are up-to-date. These letters are being sent to some taxpayers resident in the UK who have money or assets overseas. For example, a bank that has provided a UK resident with an overseas bank account may be required to send such a letter.

If you have received a letter from HMRC or have specific concerns we would be happy to discuss your options. It is important to note that receipt of a letter in no way implies that any tax avoidance has taken place. However, those with undeclared foreign income or assets will need to make a disclosure to HMRC using the WDF.

Unlike previous disclosure opportunities, the new WDF does not offer any special terms for settling tax affairs and in most cases any interest and penalties levied will be charged in full. HMRC’s guidance on making a disclosure has recently been updated.


Contact Us

Poole Office

Tower House, Parkstone Road
Poole, Dorset
BH15 2JH
Tel: 01202 678555

This email address is being protected from spambots. You need JavaScript enabled to view it.

Company Registration No: O7430971
VAT Registration No.107585703

Wimborne Office

Beaufort House, 2 Cornmarket Court
Wimborne
BH21 1JL
Tel: 01202 849169

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