Offshore income or gains
Do you need advice on your overseas income or gains? Have you received a letter from HMRC informing you may need to pay tax on these?
It is your responsibility to tell HMRC about your UK tax liabilities from offshore income or gains from anywhere in the world. If you have received a letter from HMRC informing that you may have received overseas income or gains that you have to pay tax on, this may be due to the UK’s tax exchange agreements with other countries. There have been numerous changes in this area. Some people with assets overseas have found that changes to their personal circumstance or to tax laws, mean that previous tax advice is no longer valid.
HMRC’s guidance is to get professional tax advice.
With advice, we can help you to bring your tax affairs up to date, including making any required disclosures via the Worldwide Disclosure Facility.
We are also experts on related topics including domicile and residence status.