UK professional requires tax advice on Indian savings
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.
- A full review of her residence and domicile position
- A full disclosure of all interest using HMRC’s offshore disclosure online facility
- Significantly reduced the number years HMRC could assess
- Reduced the tax liability
- Reduced penalties – which could have been up 200% of the tax due