Decleration to HMRC

[mullet]

Another point for yf77. When HMRC find you - either by you making a disclosure or them "stumbling upon" you - they won't just take whatever you give them (in terms of figures for taxable profit etc) and accept them blindly. They will go through everything (the depth will depend to a small extent on the individual Inspector but mainly on the nature of your activities and records) to check that they are taking the correct amount of tax, interest and penalties. This is why your proposal for an anonymous disclosure with protection from HMRC looking at it again in the future just won't work. How could they be sure that the position for the earlier years had been corrected? And they certainly won't give you the assurance that you desire with everything is on your terms.

[wamstax]

and following on from Mullet's point this is another reason to engage with a tax investigation specialist so that all those sort of aspects and facets can be looked at in advance of any disclsoure to HMRC. In that way you can resolve any potential problems in advance and without hMRC breathing down your neck being intrusive and poring over your financial statements etc

[Generix]

Guys you're really killing off my new business venture of acting as a middleman for these 'anonymous disclosures'...

In the interest of balance, as there have been so many negative comments, I feel I need to point out the positives of such disclosures:

-No complicated calculations need to be made
-No paperwork required
-Cash only basis, so no paper trail
-No awkward questions requesting more details etc following the disclosure
-Fee free, I don't even take a commission!

[Bridge96]

RE: Taking up a tax amnesty opportunity offered by HMRC - for reduced tax penalties etc - The Mail Online reported last week that HMRC are going to offer a partial tax amnesty to middle-class taxpayers with undeclared income.

If you're undeclared income was earned before 2010 and you have not completed a self-assessment form then HMRC are giving people the opportunity to settle unpaid tax bills by this October. Reduced penalties offered are £200 and a fine amounting up to 10% of unpaid tax.

Again, I would advise contacting a tax investigation expert for the best possible outcome.

[yf77]

Hi

dont know if its fraud or not ...

i thought i was being prudent and not posting profits until fully realised, but would just prefer to disclose the matter in an anonymous manor, as its built up for the last 6 years.

thanks

[wamstax]

Generix, and I suppose your SOCA report will ensure that you get the repeat business as well