Worldwide Disclosure Facility (WDF) - tax disclosure

The Worldwide Disclosure Facility (HMRC WDF) followed the Requirement to Correct legislation, which was HMRC’s last attempt to encourage residents with links to offshore assets, investments and bank accounts to review & regularise any historic UK tax irregularities by late 2018. Since then there have been no 'carrots' to additionally encourage voluntary disclosures like avoiding the strict Failure to Correct (FTC) penalty regime.

Voluntary disclosures should still be made, wherever possible, to ensure the absolute lowest FTC and offshore penalties are secured, and even a suspension of the latter. Trust us to assist you with your WDF disclosures - we are experts in this area.