The High Risk Wealth Programme (HRWP) is aimed at provided an accelerated resolution of long-standing tax disputes for high net worth individuals where there is significant tax at risk (replicating the High Risk Corporate Programme).
The program operates like Alternative Dispute Resolution (ADR) but without the mediator or the mediation day. The average potential liability being considered is currently £12m (increased from £10m). Cases are sourced from existing ongoing tax enquiries and are based on case management data and the potential liability. The focus is on cases where the relationship between the taxpayer and HMRC may have broken down, views are entrenched, and the HRWP team can add value by offering a fresh perspective (and hopefully bring long standing cases to a conclusion).
The key benefits of HRWP for the taxpayer are:
- Priority access to technical specialists
- Obtaining certainty regarding the position
- Faster resolution of an existing dispute
Although the current HRWP cases all stem from existing enquiries where the tax risks were already known to HMRC, the HRWP will accept voluntary disclosures.
How can WLH Tax help
If you have a longstanding dispute with HMRC which you believe could be dealt with under the HRWP or you have a significant voluntary disclosure to make to HMRC and would like this dealt with quickly, please contact us for a free, confidential and no obligation discussion. We are happy to have an initial free of charge meeting with prospective clients.