How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask bigduckontax Your Own Question
bigduckontax
bigduckontax, Accountant
Category: Tax
Satisfied Customers: 4082
Experience:  FCCA FCMA CGMA ACIS
75394688
Type Your Tax Question Here...
bigduckontax is online now

I have received a letter from HMRC regarding the Worldwide

Resolved Question:

I have received a letter from HMRC regarding the Worldwide Disclosure Facility and would welcome some advice before I answer
Submitted: 1 month ago.
Category: Tax
Expert:  bigduckontax replied 1 month ago.

Hello, I am Keith, one of the experts on Just Answer, and pleased to be able to help you with your question.

What are HMRC actually saying in their fishing expedition?

Customer: replied 1 month ago.
the letter says that 'our information indicates you may currently have, or previously had, income or gains from offshore money or assets' - it's the second letter in a week, it mentions that it is 'the final opportunity to bring your worldwide tax affairs up to date' - oddly there is no deadline? Perhaps it would be better to speak on the phone, I see that there is Switch to a live phone call option?
Customer: replied 1 month ago.
not sure whom I am talking to - are you familiar with Worldwide Disclosure Facility?
Customer: replied 1 month ago.
would it be better to talk at a later time today?
Expert:  bigduckontax replied 1 month ago.

My immediate reaction to what is clearly an HMRC 'fishing expedition' is, do you actually have offshore income? If you do then declare it, if not respond the HMTC's letters denying any such income. Do this in writing, not by verbal communication.

I do hope that you have found my advice of assistance.

Customer: replied 1 month ago.
I am a French national and while I moved to the UK several decades ago, I have kept my current account with my French bank + a savings account with basically 200 euros on it. However, the account is registered to my UK address and would have surfaced as part of the recent international banking information exchange - although it brings me no revenue I guess I will have to fill the Worldwide Disclosure Facility form and declare it - I was completely unaware of this initiative until now.
Expert:  bigduckontax replied 1 month ago.

You are only required to declare income upon which tax has not been levied. In this case there is no income to declare and I would advise you to tell HMRC politely to take a running jump and concentrate more on the big boys like Starbucks and Vodafone for example whose armies of accountants and lawyers give HMRC a rough time and thus escape proper tax attention!

Customer: replied 1 month ago.
If I understand you correctly, there is no need for me to come forward under the Worldwide Disclosure Facility, simply because I do not receive an income from my French accounts - I guess this is what I'll answer to HMRC although they may insist that I do register under the scheme. Finally in your opinion, could I do that myself, or would I need to enrol the services of a tax advisor?...which would of course be rather costly. To Starbucks and Vodafone you could add Amazon, probably the worst of them.
Expert:  bigduckontax replied 1 month ago.

Tell HMRC to mind their own business as you have no overseas income end of story. Warn them that persistent questioning constitutes debt harassment, a criminal offence.

Customer: replied 1 month ago.
Thanks and I'll follow your advice.
Expert:  bigduckontax replied 1 month ago.

Delighted to have been of assistance.

Please be so kind as to rate me before you leave the Just Answer site.

bigduckontax and other Tax Specialists are ready to help you