This work covers the regime requiring disclosure of certain tax arrangements to HM Revenue & Customs. A solicitor helps you understand whether an arrangement must be reported, gathers necessary information, and prepares and submits the disclosure to HMRC, including any accompanying documentation. They also advise on the implications of the disclosure, liaising with HMRC on your behalf, and addressing follow-on enquiries or, if applicable, negotiations or corrective steps. The practice is shaped by the structure of the UK reporting regime and potential penalties for non-compliance.
Where a solicitor protects your position
The implications of failing to report or misreporting can include penalties and the possibility of further investigation. A solicitor’s involvement helps ensure the information disclosed is accurate, timely and complete, and that any responses to HMRC are properly framed within the legal framework governing reportable arrangements.