WDF and my offshore income

[atif1980]

I hope someone can help me. I've received a letter from the HMRC Offshore Coordination Unit who now know that I have overseas bank accounts and are asking me to confirm whether or not I am compliant with my UK taxes in relation to my offshore income/gains. Not sure how best to respond..

Thanks

Atif

[GlobalTaxAdviser]

Best to be honest and upfront as they will have strong evidence that you have a offshore bank account. There are many tax authorities around the world sharing information with each other

[AmanSood]

Hi Atif, I would agree with GTA as HMRC has access to lots of information and some of this is now being automatically shared with HMRC (without asking). If of interest, please see our article (link below) which provides further information on HMRC's increasing activity in this area and if I would hazard a guess, the letter you received from HMRC is probably very similar to the sample included in the article.

http://e-taxconsulting.com/onewebmedia/ ... 202017.pdf

Thanks

Aman

[DavidTreitel]

Hi Atif, I would agree with GTA as HMRC has access to lots of information and some of this is now being automatically shared with HMRC (without asking). If of interest, please see our article (link below) which provides further information on HMRC's increasing activity in this area and if I would hazard a guess, the letter you received from HMRC is probably very similar to the sample included in the article.

http://e-taxconsulting.com/onewebmedia/ ... 202017.pdf

Thanks

Aman

Aman - are you saying to complete HMRCs certificate?? or not??

[AmanSood]

Hi Atif, I would agree with GTA as HMRC has access to lots of information and some of this is now being automatically shared with HMRC (without asking). If of interest, please see our article (link below) which provides further information on HMRC's increasing activity in this area and if I would hazard a guess, the letter you received from HMRC is probably very similar to the sample included in the article.

http://e-taxconsulting.com/onewebmedia/ ... 202017.pdf

Thanks

Aman

Aman - are you saying to complete HMRCs certificate?? or not??

It's not like you have a choice DavidTreitel... if HMRC asks you to complete the certificate then you have to. You just need to make sure this is correctly completed and do the required up-front review/analysis

[DavidTreitel]

Hi Atif, I would agree with GTA as HMRC has access to lots of information and some of this is now being automatically shared with HMRC (without asking). If of interest, please see our article (link below) which provides further information on HMRC's increasing activity in this area and if I would hazard a guess, the letter you received from HMRC is probably very similar to the sample included in the article.

http://e-taxconsulting.com/onewebmedia/ ... 202017.pdf

Thanks

Aman

Aman - are you saying to complete HMRCs certificate?? or not??

It's not like you have a choice DavidTreitel... if HMRC asks you to complete the certificate then you have to. You just need to make sure this is correctly completed and do the required up-front review/analysis

Why would this certificate be required to be completed? Under which piece of UK legislation, specifically?