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HMRC tax meetings for British nationals in the Alicante province

HMRC tax meetings for British nationals in the Alicante province

Old Aug 29th 2018, 12:30 am
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Default HMRC tax meetings for British nationals in the Alicante province

Announcement from UK Embassy Madrid, today -

On 4th September HMRC representatives from the UK are holding two sessions in the Alicante province to talk about tax issues.

As part of the British Government’s “Requirement to Correct” legislation UK taxpayers must make sure that all their foreign income and assets, where there might be tax to pay, have been declared to HMRC before 30 September 2018.

From 1 October 2018, new, substantially higher penalties will apply for those who have failed to pay all the tax due on foreign income and assets.

The vast majority of people and businesses pay the right amount of tax. The requirement to correct legislation is aimed at those who fail to pay tax on their offshore income or assets.

However, many people may not realise that some straightforward actions, such as renting out a property Spain or transferring income and assets from one country to another, could mean having to pay tax in the UK. This includes having income from an asset in Spain or anywhere else in the world. These must all be declared to HMRC.

HMRC is, therefore, urging people to check they have paid the right tax on their offshore assets, before tougher penalties are introduced from 1 October 2018.

Although the Requirement to Correct applies to people who pay tax in the UK, it could still affect people if they live abroad and pay tax outside the UK, for example, people who rent out their UK home whilst living in Spain or another country.

If you are concerned that you haven’t told HMRC about foreign income assets, or that you have transferred income abroad without paying the UK tax on it, you should make a disclosure to HMRC before 30 September 2018. You could also consider taking independent professional advice before deciding what to do next.

Find out what the new international tax legislation means for you

On 4 September HMRC representatives from the UK are holding two sessions in the Alicante province to talk about this new international tax legislation. These changescan affect more people than you may think so come along to hear if it affects you.

The details of the two sessions are:

4 September in Rojales
Capitol Theatre
Calle A. Gonzalez Vergel
Rojales
Time: 11:00am

4 September in Teulada-Moraira
Edificio Espai La Senieta
Avenida de Madrid 15
Teulada-Moraira
Time: 5:00pm
Come along to the HMRC session closest to you to learn about this new UK international tax legislation, how it could affect you and what to do to prepare.
HMRC representatives will also be on hand to answer questions and provide updates on associated international tax issues.

Please note that the representatives will not be able to give any specific advice on issues relating to Spanish tax. British Consul Sarah-Jane Morris will also attend both events as well as representatives from Teulada and Rojales town halls.

Further guidance on how to inform HMRC via the Worldwide Disclosure Facility, including how to register and when payment is due, can be found on the HMRC website at www.gov.uk/guidance/worldwide-disclosure-facility-make-a-disclosure.
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