Do you have overseas assets and income you haven’t declared?

All accountants and tax agents should now be sending or have sent a letter or e mail to their clients saying

From 2016, HM Revenue & Customs (HMRC) is getting an unprecedented amount of information about people’s overseas accounts, structures, trusts, and investments from more than 100 jurisdictions worldwide, thanks to agreements to increase global tax transparency. This gives HMRC unprecedented levels of information to check that, as in most cases, the right tax has been paid.

If you have already declared all of your past and present income or gains to HMRC, including from overseas, you do not need to worry. But if you are in any doubt, HMRC recommends that you read the factsheet attached to help you decide now what to do next.

https://www.gov.uk/government/publications/client-notification-income-or-assets-abroad/notes-on-how-and-when-to-send-the-client-notification-letter

Here is a link to the fact sheet

https://bbaltd.sharepoint.com/_layouts/15/guestaccess.aspx?docid=0b2969c05c0b74833bb2c42df251ddfb0&authkey=AQoJsi8KFnP87sNNjN-JK4E

Time is running out, so make sure you declare all your income and assets.

steve@bicknells.net

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