The “offshore industry” has seen massive amounts of change in recent years. Both Switzerland and Liechtenstein have handed over significant amounts of client data that a few years’ ago no-one would have ever anticipated. This has lead to numerous disclosure facilities culminating in the (probably) final “worldwide disclosure facility” (which isn’t really a facility at all in the context of what we have know previously, it’s now more or less “pay up or face the consequences!”).
We have helped many clients bring their affairs up to date through the prior disclosure facilities and for anyone out there who still needs to get their affairs in order, time really is now running out.
These days, the level of data sharing between Revenue authorities internationally – as well as across government departments in the UK – means that you can more or less assume that if the information is out there, HMRC will have it. The world has changed, and the penalties for non-compliance are there to encourage a re-think among anyone that thought otherwise!
We therefore work with you to properly understand the situation, and then agree with you how best to present that to HMRC. We’re on your side.