In this episode of London Property Digest, we explore the 22% rise in UK residents admitting to unpaid taxes on foreign assets during 2023-24. Discover how HMRC’s enhanced efforts—ranging from increased warning letters to data sharing with 120 countries under the Common Reporting Standard—are driving voluntary disclosures. We discuss the role of advanced data analysis, improved global data exchange, and public awareness in tackling the UK's £39.8 billion tax gap. Tune in to learn about the potential penalties for non-disclosure, including prison sentences in severe cases, and what this means for UK residents with foreign assets.
The Story Behind London Property Digest:
Originally created to keep our team at Longrad sharp and informed, we’re now sharing these insights with the wider community — offering you a fast, comprehensive London property update on the go.
About Longrad:
Founded in 2005, Longrad is an independent consulting agency specializing in the individual selection of prime residential and commercial real estate. With over 19 years of experience in the luxury real estate market, our team of qualified professionals knows London’s property landscape like the back of their hand.
For more information about London property market, visit our website at longrad.com.
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We’d love to hear your feedback! Have questions or suggestions for future episodes? Feel free to reach out to us at info@longrad.com.
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