Grace period for UK Tax Residents to Report Worldwide Income and Assets

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Grace period for UK Tax Residents to Report Worldwide Income and Assets

Petition Details

Requesting the Government to create a short-term grace period for UK tax residents to report worldwide income and assets without penalties.
We think HMRC should provide clear guidance and support to help people comply and avoid unexpected tax bills.

Additional Information

We think that many UK tax residents don’t realize they must report worldwide income, which could lead to penalties and unexpected tax bills.
We think a short-term grace period would help people fix mistakes without heavy penalties.
We think this would promote fairness, improve understanding, and give taxpayers a chance to comply before facing enforcement.

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