A brown envelope from HMRC. A letter saying they have information about offshore income or gains you may not have disclosed. No detail about what that information is. If that has happened to you, or you are worried it might, this episode is here to take the heat out of it.

Simon Roue and Laura Sant explain why nudge letters get issued, how international information sharing between tax authorities works, and why the whole thing is an administrative process governed by legislation rather than an accusation of wrongdoing.

In this episode:

• Why HMRC sends nudge letters, and why offshore income features so heavily
• The classic misconception: paying tax abroad does not mean nothing is due in the UK
• Why UK tax residents are taxable on worldwide income and gains
• Calling HMRC to find out what information they hold
• How disclosures work for historic years, using the rules and rates that applied at the time
• The four year window for reclaiming overpaid tax, and how missing it can leave you doubly taxed
• Country categories, penalties, interest and the offer process
• Real cases, including a £6.40 disagreement over interest on a liability in the thousands

This is part one of a two part miniseries. Part two covers Section 9A enquiries.

If a nudge letter has landed on your doormat, you do not have to work it out alone.

Ready to talk through your own situation?

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