Worldwide Disclosure Compliance

At Metta Accountants, we offer a comprehensive Worldwide Disclosure Compliance service that includes assistance with completing your worldwide disclosure declaration, compliance checks, negotiation with HMRC, and tax planning. We understand that receiving a nudge letter from HM Revenue and Customs (HMRC) can be a daunting experience, which is why we are here to provide you with the support and guidance you need to comply with HMRC regulations and minimise any potential penalties or fines. 

We have extensive experience in dealing with worldwide disclosure declarations and can provide you with comprehensive guidance throughout the disclosure process. We can review your financial records and identify any potential issues that may need to be addressed before completing your worldwide disclosure declaration. We can also help you negotiate with HMRC to minimise any penalties or fines and provide you with expert advice on how to structure your income and assets to minimise your tax liability and maximise your returns in future. 

We take the time to understand your individual circumstances and tailor our services to meet your specific needs. Over the years, we have successfully helped numerous clients bring their tax affairs up to date with HMRC, and we take great pride in helping clients save significant penalties by using a tailor-made approach that meets their individual requirements. 

We are well-versed in HMRC regulations and can provide you with comprehensive guidance throughout the disclosure process. We understand that each situation is unique, and we take the time to understand your individual circumstances to provide you with the best possible service. Our team is committed to providing you with expert advice and support to ensure that you remain compliant with HMRC regulations and avoid any potential penalties or fines.                  

So, if you have received a nudge letter from HMRC regarding undisclosed overseas income, don’t panic. Contact us today to schedule a consultation and see how we can help you bring your tax affairs up to date with HMRC. We have successfully helped numerous clients save significant penalties, and we are confident that we can help you too.                                   

Our Overseas Income Tax Planning services cover:       

• Tax Treaty Planning: As an international individual, you may be eligible for tax treaty benefits. Our team can help you identify which tax treaties apply to your situation and advise you on how to maximise the benefits of these treaties to minimise your tax liability.
• Foreign Tax Credit Planning: If you pay taxes overseas, you may be eligible for a foreign tax credit. Our team can help you navigate the complexities of foreign tax credit regulations and advise you on how to maximise your foreign tax credit to reduce your overall tax liability.                 
• Remittance Basis of Taxation: If you’re a non-domiciled individual in the UK, you may be eligible to be taxed on a remittance basis. This can help you minimise your UK tax liability by only being taxed on income and gains that you bring into the UK. Our team can help you navigate the remittance basis of taxation rules and advise you on how to structure your finances to take advantage of this tax relief. 
• Statutory Residency Test: The Statutory Residency Test determines your UK tax residency status. This can have a significant impact on your tax liability, as well as on your worldwide disclosure obligations. Our team can help you determine your residency status, advise you on how to structure your finances to minimise your tax liability, and ensure that you remain compliant with relevant regulations.
• Foreign Tax Credit Relief: If you pay tax overseas, you may be eligible for Foreign Tax Credit Relief. This can help you avoid being taxed twice on the same income, as you can offset the tax paid overseas against your UK tax liability. Our team can help you navigate the complexities of Foreign Tax Credit Relief and advise you on how to maximise this tax relief.                                             
• Tax Sparing Credit: Some double taxation agreements provide for Tax Sparing Credit, which can reduce your tax liability in certain circumstances. Our team can help you identify if you’re eligible for Tax Sparing Credit and advise you on how to take advantage of this tax relief.                      
• Double Taxation Agreements: Double Taxation Agreements can help you avoid being taxed twice on the same income or gains. Our team can help you navigate the complex web of Double Taxation Agreements and advise you on how to structure your finances to take advantage of these agreements.                                     

At Metta Accountants, we are committed to providing our clients with comprehensive tax advice and support. Our team of experts can help you navigate the complexities of worldwide disclosure compliance and overseas income tax planning, ensuring that you remain compliant with relevant regulations whilst maximising your tax efficiency. Contact us today to schedule a