Isle of Man Disclosure Facility
The UK taxman is being given details of all Isle of Man bank accounts (and many other assets managed in there); following a series of landmark agreements with former so-called "tax havens”, effectively ending offshore banking secrecy and offshore tax evasion.
HMRC created a special "tax amnesty" for UK residents who had bank accounts or other financial assets on the Island. The Isle of Man Disclosure Facility closed for new registrations on 31 December 2015, and has ben replaced by the Worldwide Disclosure Facility
Disclosed and Worried?
Anyone who submitted a disclosure under the IoMDF could be investigated. If you took part and are worried that you might be subject to a Tax Investigation, or HMRC have already issued you with a Tax Enquiry Notice, then you now need specialist help. If HMRC have not accepted your disclosure it means they have serious concerns - especially if the unit is now investigating you is the Fraud Investigation Service. A Tax Investigation can cover 20 years, be personally intrusive, disruptive, and generally causes great distress. Your current adviser doesn't appear to have satisfied the taxman. Now is the time to turn to experienced Tax Enquiry Experts.
Didn’t Disclose? Time’s running out!
On the other hand, you may have a bank account, trust, company, or other asset, in the Isle of Man (or anywhere else in the world) but did not use the IoMDF. The Manx authorities are passing on full details to the UK's HM Revenue and Customs. Time is now running out before you receive an inevitable Tax Investigation. If you do not come forward now to make a voluntary disclosure then HMRC may prosecute you. There are still approved methods to get the best deal from HM Revenue and Customs. The purpose-made Worldwide Disclosure Facility is good for straightforward cases, and offers the lowest penalties; the Contractual Disclosure Facility guarantees immunity from prosecution. However, you do not have long before the HMRC process the information they are getting and sending out the dreaded brown envelopes; or turning up at your home at dawn! You need to obtain specialist assistance as soon as possible.
How can Lynam Tax Disclosure Experts help me?
Our Tax Disclosure Specialists have decades of success in handling Tax Investigations and Disclosures involving offshore bank accounts and other assets. We have been acknowledged by HMRC's Fraud Investigation Service unit as one of the UK’s leading specialists in using the Offshore Tax Amnesties. We can assess your particular situation and advise you of the optimum route. We can manage the entire disclosure process for you, and guide you to the best possible result - just as we have done for very many highly satisfied clients.
*For more information, or for a completely confidential and free initial consultation: call Paul Lynam now, on: 0845 643 9997
NB: Don't Delay! The Taxman will be investigating!
Lynam Tax Enquiry Experts HELP ME?
- Offshore Bank Disclosures
- Contractual Disclosure Facility/ COP9
- Appeals / Tribunal Hearings
- Tax Amnesty
- Fraud Investigation Service
- Rental Income Tax Enquiry
- Business Tax Enquiry
We specialise in managing all Tax Enquiry, Tax Disclosures & Tax Disputes with HMRC.
We will help you throughout the Tax Investigation or Disclosure and save you money, so you can concentrate on running your business and enjoying your private life.
For a helpful, sympathetic, confidential and no obligation discussion: