UK professional requires tax advice on Indian savings
Our Client
A high-profile professional who moved to the UK to study and start a career required advice around tax on savings accounts held in India following an invitation from HMRC to clarify funds.
Our Approach
- A full review of her residence and domicile position
- A full disclosure of all interest using HMRC’s offshore disclosure online facility
The Outcome
- Significantly reduced the number years HMRC could assess
- Reduced the tax liability
- Reduced penalties – which could have been up 200% of the tax due
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