HMRC launched their Disclosure Service on 5 September 2015. This has been updated and readers can find the four documents by following this link.
The four are:
Make your disclosure on line Make your company’s disclosure on line Agent disclosure on line Agent disclosure using the postal formHMRC are tackling tax evasion at all levels and they are encouraging tax payers to disclose involvement in tax avoidance schemes voluntarily rather than wait for HMRC to discover the schemes. The rationale is quite simple, tell HMRC and they will assess the tax liability plus potentially lower penalties because there has been unprompted disclosure. Whereas, wait for HMRC to discover the and face the potential of additional penalties and possible criminal prosecution.
There is the added benefit of voluntary full disclosure - HMRC will not open a tax investigation into their affairs.
