Registration needs to be made by HMRC’s Digital Disclosure Service (DDS) and the following details will be required to notify an intention to make a disclosure:
- Name
- Address
- National Insurance number
- Unique Tax Reference
- Date of birth
- The name, reference and contact details of any agent acting
Following receipt of a Disclosure Reference Number (DRN), the disclosure must be submitted to HMRC within 90 days using HMRC’s DDS. A requirement of the facility is that payment of the total liabilities is made in full at the time of submission.
The final settlement will involve interest and penalties. The level of penalties will be based on differing criteria and may be higher if there is already an ongoing investigation, the disclosure is connected to a previous inaccurate disclosure or settlement and offshore penalties may need to be considered.
It is important to note that the WDF does not guarantee immunity from a criminal investigation. Therefore, it may be more appropriate to make a voluntary disclosure via Code of Practice 9 (COP9).