Offshore Income Assistance

I got in touch with the Private Client International Team at AAB after receiving a letter from HMRC, confirming that they were aware that I had offshore income or gains.

HMRC later confirmed that this letter was connected to a withdrawal from an overseas pension savings plan, which I was enrolled in when working outside the UK, but I had actually already reported what I thought was the correct taxable amount on my Tax Return that year. HMRC wanted more details before they would agree, turns out this is one of the most complex areas of UK tax.

Fortunately for me,  the International team at AAB have a great deal of experience in this subject, and very quickly established the correct UK tax position, thereafter fully managed the voluntary HMRC disclosure process for me. They also managed to wipe out all penalties, even after HMRC insisted that penalties were due.

Their overseas tax expertise and support was invaluable, and I wouldn’t hesitate to recommend the AAB Private Client International Tax team.