What is Requirement to Correct?

Requirement to Correct is a new HMRC penalty regime which will come into force on 1st October 2018. It relates to foreign income/gains that have been incorrectly reported/undeclared in the past. These errors must be corrected by 30th September 2018 to avoid a default tax geared 200% penalty. Ask our tax department for more information on info@mcphersons.co.uk or call 01424 730000.

 

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