IBBZ Accounting

Chartered Accountants & Tax Specialist

 

Voluntary disclosure

 

Problem: Voluntary disclosure is a way that business used to reduce their shortfall penalties and in many cases avoid the risk of prosecution. Most people want to disclosure their tax voluntarily because they want a fresh start on their tax affair. Thus, a voluntary disclosure must be made carefully and precisely, as it is verified by the IRD and it can be followed by a full investigation.

If a voluntary disclosure is made before notification of a pending investigation, the penalty is reduced by 100% where the shortfall penalty is for not taking reasonable care, for taking an unacceptable tax position or for an unacceptable interpretation. For all other cases the penalty is reduced by 75%. 

Solution: IBBZ accountants will help you to understand voluntary disclosures and advice when you need to make one. We will also assist you with your voluntary disclosures and negotiate settlements with the IRD on the best terms possible. 

Google Reviews

 

Testimonials

Emma Phillips
03-August-2020
Fantastic team at IBBZ! They have helped me immensely with overseas income and tax, response time is almost immediate, and all questions are thoroughly answered.
Very trustworthy.
Jabin Lamble
29-July-2020
Becoming a contractor after being on PAYE my whole life I thought how hard your own tax can doing be so for the first 3 years I did it myself and messed it up big time! I ended up owing IRD money accumulating penalties and interest with business running completely in the red. From the first meeting Ibbz were helpful, understanding, and willing to work out a payment plan for their services. They successfully negotiated with IRD on my behalf and sorted my tax issues out. They also do my returns for me and help to stop any issues before they start!
Jamie Sanders
01-July-2020
IBBZ Accounting was very helpful in sorting out my overseas income. They responded quickly and answered all my questions. I would definitely recommend IBBZ, especially for complicated or overseas tax filing.