Digital Disclosure Service
What is a Digital Disclosure service?
HMRC’s Digital Disclosure Service is an online system that allows individuals and businesses alike to disclose their tax liabilities or irregularities that HMRC are unaware off. The primary use of this service is for businesses and individuals to voluntary disclosure any unpaid taxes, undeclared income and other tax-related disclosures.
Why make a voluntary disclosure?
If you have come to the realisation that you may have provided inaccurate information (accidentally or intentionally) that will affect your tax bill it is advised that you disclose this to HMRC using the Digital Disclosure Service before being prompted by HMRC. This is because rectifying your tax affairs voluntarily will minimise your potential tax penalties. Please note that using this service will not exempt you from a penalty but it may help reduce them.
If you are considering using the Digital Disclosure Service, it is advised to consult a professional tax advisor regarding this. A good tax advisor will ensure you fully understand your liabilities and the possible implications of making a voluntary disclosure.
Contact us for a free initial meeting
To find out more about how one of the leading firms of accountants in Sheffield, Doncaster and Northampton can help you, please contact one of our specialists. We believe in long-term client relationships and understand the importance of meeting to establish that you like us and we like you. This is why we offer all new clients a free initial meeting which will enable you to have a discussion about you and your business issues.
Benefits of working with Hawsons
Take time to get to know you, your business and your aims
Partner-led service tailored to your specific needs
Responsive and available when needed
Tax planning and advice
A one stop shop of specialist services available as needed
Efficient and effective use of technology
No unexpected bills
Our tax advisors
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