If you have been renting out or have sold residential property in recent years and have not declared the income or capital gains to the taxman, there is an amnesty being run by HMRC – the Voluntary Disclosure Campaign – which provides an opportunity for you to bring your tax affairs up to date with minimal consequences. The idea is that far more favourable terms are provided if you approach HMRC rather than the other way round.
This involves making an application to the campaign and then submitting details of your profits for the period in question.
If you are unsure about how to apply or complete the necessary calculations, or would like help in doing this, contact us and we can take care of the whole process for you.
Ricky worked as an Investigator in the Inland Revenue for over 20 years before founding Steedman & Company in 1987, giving him the experience and knowledge that’s enabled him to help so many clients over the years.
His appearance on a Channel 4 television programme about the inside workings of Revenue and Customs was watched by 4.1m, sealing his status as one of the most highly respected tax consultants working in Scotland today.
Ricky leads all tax investigation and COP 9 cases, using his extensive knowledge to help people reach a positive resolution to their situation.