Undeclared Foreign Income

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cobbles
cobbles Registered Posts: 30 Regular contributor ⭐
in General accounting discussion
Hello All

Looking for advice ...

New client with rental property income (Switzerland) which they have never disclosed on their personal tax return falls under the double taxation treaty

Question - should I write to HMRC to amend the previous tax returns? or just included for tax year 2016_17.

Thanks

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  • MarieNoelle
    MarieNoelle Registered, Moderator Posts: 1,368
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    How long has the client been letting the property?
    Have you assessed whether there was a tax liability (the double tax treaty should clarify how tax relief can be obtained).
    I assume the client is UK resident and domiciled so if he was required to fill in a tax return (whether or not a tax liability arises from the foreign income) he should have disclosed his worldwide income.
    it may be beneficial to use the HMRC disclosure facilities if this dates back a few years.

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