It was reported in the press this week that HMRC has increased its activity in investigating underpaid capital gains tax (CGT). The number of cases investigated tripled last year, with over £200m in additional taxes being collected.
We have seen some activity with our client base of international private clients, with so called nudge letters being issued in respect of overseas gains and crypto transactions being issued.
If you receive one of these offshore income and gains, or crypto nudge letters then please contact us. We can help review your situation and any action that’s required following that review such as registering and making disclosures using the worldwide disclosure facility, or simply responding to the letter to confirm no disclosure is required.
If there is an irregularity, which can happen quite innocently, it’s important that expert advice is taken in order to ensure you pay no more than the correct amount of tax, interest and penalties which are due.
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