Register of Overseas Entities – tax implications

Members are reminded of HMRC’s guidance on the tax implications of the register of overseas interests. That guidance states that, if you’re concerned the right amount of tax hasn’t been paid, you must come forward and tell HMRC as soon as possible.

You should do this before 28 February 2023 and let HMRC know you intend to make a disclosure. If you do not come forward before that date, penalties may be higher. To make a disclosure, you should use the Worldwide Disclosure Facility (WDF). See also our professional standards guidance on our website here.