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Learn more about Worldwide Disclosure Facility (WDF)

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The HMRC’s Worldwide Disclosure Facility allows individuals and businesses with overseas interests to disclose any irregularities in their UK tax affairs. The WDF is part of HMRC’s broader strategy to tackle international tax non-compliance and aims to encourage taxpayers to declare any UK tax liabilities relating to offshore income or assets.

If you have undeclared overseas income, the WDF provides a chance to correct your tax situation voluntarily before HMRC begin an investigation. However, understanding the implications, responsibilities, and potential penalties associated with a WDF disclosure is crucial.

Our Services

We offer a comprehensive range of services to assist you with the Worldwide Disclosure Facility process. These include:

Initial Consultation

Our process starts with a detailed, confidential consultation. During this meeting, we gain an understanding of your unique circumstances and specifics of your case. We discuss the implications of the WDF, explain the procedure, and answer your questions. With this knowledge, we strategise the most effective course of action for your disclosure.

Assessment and Advice

We conduct an in-depth review of your overseas and UK tax affairs. We identify any areas of concern and provide advice on what needs to be disclosed. This includes identifying the potential additional tax due, possible penalties, and the best method of disclosure.

Disclosure Preparation

A key component of the WDF process is the preparation and submission of a comprehensive and accurate disclosure report to HMRC. This report forms the basis of your case. Our team will assist you in gathering necessary information, carefully reviewing your tax records, and identifying any areas that need correction. We will guide you in creating a detailed and precise report that ensures full compliance with HMRC.

Negotiation and Settlement

Once the disclosure report is submitted, there may be negotiations with HMRC regarding the additional tax due and any penalties. This stage can be intricate and challenging, requiring an in-depth understanding of international tax laws and negotiation skills. We will work diligently to achieve a settlement that fairly represents your situation and focuses on minimising potential penalties and liabilities.

Frequently Asked Worldwide Disclosure Facility (WDF) Questions

  • What is the Worldwide Disclosure Facility (WDF)?

    The Worldwide Disclosure Facility is a service provided by HM Revenue and Customs (HMRC) that allows individuals and businesses with overseas interests to voluntarily disclose any irregularities in their UK tax affairs. The goal is to encourage taxpayers to declare any UK tax liabilities related to offshore income or assets.

  • Who should use the Worldwide Disclosure Facility?

    If you have undisclosed overseas income or assets and need to correct your UK tax situation, the WDF is a service you should consider. This could include individuals or businesses who have not declared income, have not registered for VAT when necessary, or have claimed non-business related expenses. The WDF is a way to voluntarily correct these discrepancies before HMRC begins an investigation.

  • How can your services assist me with the Worldwide Disclosure Facility?

    We provide a comprehensive suite of services to help you navigate the WDF process. We start with an initial consultation to understand your unique situation, then conduct a thorough assessment of your tax affairs, offer expert advice on what needs to be disclosed, assist in preparing an accurate disclosure report, and provide support during negotiations with HMRC. Our aim is to make the process as seamless and stress-free as possible, while also working to minimise potential liabilities and secure the most favourable outcome for you.

Why Use Tax Guard Accountants to protect your money

  • Expertise

    Our team of experienced professionals has handled numerous WDF cases, providing insight and guidance throughout the process.
  • Experience

    We have successfully managed complex WDF disclosures and negotiations, leading to beneficial outcomes for our clients.
  • Dedicated Support

    We understand the pressure and uncertainty associated with voluntary disclosure. Our committed team will back you at every step, ensuring transparent communication and providing peace of mind.
  • Confidentiality

    We respect your privacy. All your information will be kept confidential and used strictly for the purpose of your case.

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    I would recommend Kane's to any business looking for an accountant.

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