Expert HMRC & Worldwide Disclosure Support in Tayside & Fife

What is a Disclosure Facility?

A disclosure facility allows individuals or businesses to come forward and correct any unpaid or undeclared tax with HMRC. It helps you stay on the right side of the law and reduce the risk of penalties.

The Worldwide Disclosure Facility (WDF) lets UK taxpayers declare overseas income, assets, or gains that haven’t been reported. Whether it’s a simple oversight or historical error, making a disclosure voluntarily is the safest approach.

How It Works

At TMA Accountants, we make the disclosure process clear and straightforward:

1. Review Your Situation
We start by reviewing your financial records to understand what needs to be disclosed and determine the best approach.

2. Gather Information
We help you collect all necessary documentation and supporting records to ensure your disclosure is complete and accurate.

3. Prepare the Disclosure
Our team completes all forms and documents required by HMRC. Accuracy is key to minimising delays and avoiding mistakes.

4. Submit and Support
We submit your disclosure to HMRC and manage all communication on your behalf, providing guidance throughout the process.

This approach ensures the process is stress-free, accurate, and compliant.

The Detailed Process

You are in a stronger position and may benefit from more favourable terms if you make a disclosure before HMRC prompts you.

Whether responding to HMRC or making an unprompted disclosure, the Worldwide Disclosure Facility involves several important steps:

1. Notify HMRC of Your Intent
The process begins with a submission through HMRC’s Digital Disclosure Service (DDS), confirming that you intend to disclose previously undeclared income, assets, or gains.

2. HMRC Acknowledgement
HMRC will send a letter acknowledging your submission and usually set a 90-day deadline to complete the full disclosure.

3. Prepare a Complete Disclosure
HMRC expects a full and accurate disclosure, including:

• Undeclared income or gains

• Tax and interest due

• A self-assessment of behaviour that led to the non-disclosure

The level of penalties depends on your behaviour, the jurisdictions involved, and the number of years covered by the disclosure.

4. Full Cooperation and Accuracy
Providing a complete and accurate disclosure is critical. Full cooperation can help negotiate lower penalties, while errors or omissions could result in higher penalties, a fraud investigation, or public naming.

5. Specialist Support
Due to the complexity and potential consequences, working with a specialist accountant is highly recommended. TMA Accountants have the expertise and experience to guide you through every step, ensuring your disclosure is accurate and your interests are protected.