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HMRC Worldwide Disclosure Facility

If you've received a nudge letter from HMRC, or even if you haven't but want to rectify past inaccuracies in your offshore income reporting, we advise taking advantage of the Worldwide Disclosure Facility (WDF) to resolve these matters. Here's what you need to know about the WDF and how Tax Dispute Experts can support you.

Expert Guidance

Our experienced team will guide you through the entire Worldwide Disclosure Facility process, ensuring you understand every step and comply with all requirements.

Accurate Disclosure

We'll assist you in accurately reporting your offshore income and correcting any past irregularities, helping you avoid unnecessary penalties and interest.

Negotiation with HMRC

Our specialists will negotiate with HMRC on your behalf to achieve the best possible outcome, minimising your exposure and resolving the investigation as quickly and cost-effectively as possible.

HMRC Worldwide Disclosure Facility

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What is the Worldwide Disclosure Facility?

The Worldwide Disclosure Facility (WDF) is an initiative by HMRC designed to encourage UK taxpayers to disclose any overseas income or assets that have not been previously reported. The facility allows taxpayers to correct their tax affairs by coming forward and making a full disclosure.

Why Use the Worldwide Disclosure Facility?

The Worldwide Disclosure Facility provides a streamlined process for disclosing undisclosed income and assets. By using the facility, taxpayers can:

 

  • Reduce penalties: Penalties for voluntary disclosure are typically lower than those imposed if HMRC discovers the discrepancies first.

  • Avoid prosecution: Voluntary disclosure can protect taxpayers from criminal prosecution.

  • More control: By making a disclosure through the Worldwide Disclosure Facility, you can take control of the process and reach a settlement more quickly than if HMRC initiated an investigation.

  • Achieve peace of mind: Rectifying your tax affairs ensures compliance and removes the risk of future investigations.

Who Should Use the Worldwide Disclosure Facility?

Any UK taxpayer with undisclosed overseas income, assets, or gains should consider using the Worldwide Disclosure Facility. This includes individuals with foreign bank accounts or investments, owners of overseas rental properties, businesses with international operations, and trusts with foreign assets.

What Is the Worldwide Disclosure Facility Process?

  • Consult a specialist: Engage a tax adviser with expertise in the Worldwide Disclosure Facility, such as Tax Dispute Experts. We can guide you through the complexities of the disclosure process, ensuring accuracy and compliance.

  • Gather documentation: Collect all relevant documents related to your overseas assets, income, and gains. This includes bank statements, investment records, property deeds, and any other pertinent financial information.

  • Register for the Worldwide Disclosure Facility: Your specialist will help you notify HMRC of your intention to make a disclosure.

  • Prepare your disclosure: With the assistance of your adviser, complete the disclosure form. Provide detailed information about your undisclosed income and assets, including calculations of the tax owed, as well as any interest and penalties.

  • Submit your disclosure: Submit the completed form to HMRC within the specified 90-day period. Your specialist will ensure that the submission is accurate and complete to minimise the risk of further penalties.

  • Pay the tax owed: Arrange to settle the outstanding tax, along with any accrued interest and penalties, by the deadline provided by HMRC. Your adviser can help you manage and plan for these payments effectively.


By working with a specialist, you can navigate the disclosure process more efficiently and address any issues with greater confidence.

What to Expect After Submission

After submitting your disclosure, HMRC will review the information provided. If HMRC has any questions or requires additional information, they will contact you or your tax adviser. Once HMRC is satisfied with the disclosure, they will confirm if you’re required to pay any tax, interest, and penalties.

How Can We Help?

Tax Dispute Experts is here to guide you through the Worldwide Disclosure Facility (WDF) process with expert precision. Our team has extensive experience in handling offshore non-compliance issues, ensuring that your disclosure is managed effectively. When you engage with us for specialist Tax Investigation advice, we will:

 

  • Conduct a thorough review of your tax affairs to pinpoint any discrepancies that need to be addressed.

  • Register you for the Worldwide Disclosure Facility, streamlining your entry into the process.

  • Prepare and submit a comprehensive WDF disclosure aimed at minimising your exposure to excess tax, interest, and penalties.

  • If necessary, provide a detailed letter of representations to HMRC to clarify your position and expedite the resolution of your case.

  • Negotiate a manageable time-to-pay arrangement tailored to your financial situation and needs, ensuring affordability and feasibility.

Contact Us

Need assistance with an HMRC enquiry? Contact us today to speak with our Tax Dispute Experts and protect your interests.

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