What are HMRC disclosure campaigns?

HMRC disclosure campaigns are targeted initiatives encouraging taxpayers to disclose specific types of undeclared income or gains. They offer a structured process and potentially lower penalties for a time-limited period. HMRC disclosure campaigns are targeted initiatives designed to encourage taxpayers to come forward and disclose specific types of undeclared income or gains. Key features: (1) Targeted — each campaign targets a specific type of irregularity (e.g., offshore income, rental income, cryptocurrency gains) or a specific taxpayer group (e.g., medical professionals, tradespeople). (2) Time-limited — each campaign is open for a limited period (typically 3-6 months). Taxpayers must notify HMRC within the campaign period to participate. (3) Structured process — the campaign provides a structured disclosure process, typically: (a) notification of intent to disclose, (b) disclosure of the irregularities, (c) payment of tax, interest, and penalties. (4) Potentially lower penalties — some campaigns offer lower penalties than the standard penalty framework, as an incentive for taxpayers to come forward. However, the penalties are still behaviour-based (careless, deliberate, etc.). (5) Not immunity — disclosure campaigns do NOT provide immunity from criminal prosecution (unlike the CDF under COP9). However, making a voluntary disclosure can reduce the likelihood of prosecution. HMRC has run various campaigns over the years, and the specific terms and availability change over time. Taxpayers should check HMRC's website for current campaigns. Relevant legislation: FA 2007, Schedule 24 (penalty framework); FA 2016, Schedule 18 (WDF); HMRC campaign guidance. Example: HMRC runs a Let Property Campaign for landlords with undeclared rental income. A landlord with £20,000 of undeclared rental income notifies HMRC that they want to participate in the campaign. They file the disclosure, including the tax due (£8,000), interest (£1,500), and penalties (£1,200, at 15% for careless behaviour with a full disclosure). They pay £10,700 and regularise their tax affairs. Common mistake: Missing the campaign deadline. Campaigns are time-limited, and missing the notification deadline means the taxpayer cannot participate in the campaign and must use the WDF (with potentially higher penalties).

What is the Let Property Campaign?

The Let Property Campaign is an HMRC disclosure campaign for landlords with undeclared rental income. It offers a structured process for disclosing and regularising rental income, with potentially lower penalties. The Let Property Campaign is an HMRC disclosure campaign specifically for landlords who have undeclared rental income from UK residential property. Key features: (1) Scope — the campaign covers undeclared rental income from UK residential lettings (including buy-to-let properties, holiday lets, and letting rooms in your own home). (2) Process — the landlord notifies HMRC that they want to participate, files the disclosure (including the tax due, interest, and penalties), and pays the amount due. (3) Penalties — the penalties are behaviour-based, but the campaign offers the opportunity for a full, unprompted disclosure, which can result in the lowest penalty within the range (0% for an unprompted, careful disclosure with full cooperation). (4) Time-limited — the campaign has been running for several years and is still open (as of 2025/26), but HMRC may close it at any time. (5) Benefits — the campaign provides a structured process for regularising rental income, with the opportunity for lower penalties and reduced risk of investigation. The Let Property Campaign is one of HMRC's longest-running and most successful campaigns. Landlords with undeclared rental income should consider using the campaign to regularise their affairs before HMRC discovers the irregularities (e.g., through information from tenants, deposit schemes, or land registry data). Relevant legislation: FA 2007, Schedule 24 (penalty framework); HMRC Let Property Campaign guidance. Example: A landlord has been letting a property for 5 years without declaring the rental income. They have £40,000 of undeclared rental income over 5 years. They participate in the Let Property Campaign, disclosing the income and paying the tax due (£16,000), interest (£3,000), and penalties (£2,400, at 15% for careless behaviour with a full disclosure). Total: £21,400. Common mistake: Assuming that HMRC does not know about the rental income. HMRC has various sources of information (tenancy deposit schemes, land registry, council tax records) that can reveal rental income. It is increasingly difficult to keep rental income secret.

Is there a disclosure campaign for cryptocurrency?

HMRC has issued guidance on cryptoassets and expects taxpayers to declare cryptocurrency gains. While there may not be a specific time-limited campaign, the WDF and standard disclosure routes are available for undeclared crypto gains. HMRC's approach to cryptocurrency (cryptoassets) disclosure: (1) HMRC guidance — HMRC has published detailed guidance on the tax treatment of cryptoassets, confirming that cryptocurrency gains are subject to CGT and must be reported on self-assessment returns. (2) Information exchange — HMRC is receiving information about cryptocurrency holdings from exchanges (some UK-based exchanges have been required to share customer data with HMRC) and through international information exchange. (3) No specific campaign — as of 2025/26, HMRC has not run a specific time-limited disclosure campaign for cryptocurrency. However, taxpayers with undeclared crypto gains can use: (a) The Worldwide Disclosure Facility (WDF) — if the crypto assets are held offshore (e.g., on a foreign exchange), the WDF is the appropriate route. (b) Standard disclosure — if the crypto assets are held on a UK exchange, the taxpayer can make a voluntary disclosure by writing to HMRC or amending their self-assessment returns. (4) Penalties — the penalties are behaviour-based (0-30% for careless, 20-70% for deliberate). A voluntary, unprompted disclosure can result in the lowest penalty within the range. (5) Specialist advice — cryptocurrency taxation is complex, and taxpayers should seek specialist advice to calculate the gains, file the disclosure, and negotiate the penalties. Relevant legislation: FA 2007, Schedule 24 (penalty framework); FA 2016, Schedule 18 (WDF); HMRC Cryptoassets Manual. Example: A taxpayer has £50,000 of undeclared cryptocurrency gains from trading on a foreign exchange. They make a voluntary disclosure through the WDF, calculating the CGT due (£12,000 at 24%), interest (£1,000), and penalties (£1,800, at 15% for careless behaviour with a full disclosure). They pay £14,800 and regularise their affairs. Common mistake: Assuming that cryptocurrency gains are not taxable or that HMRC does not know about them. HMRC is receiving information from exchanges and through international information exchange. Taxpayers with undeclared crypto gains should make a voluntary disclosure before HMRC discovers them.

How do disclosure campaigns compare to the WDF?

Disclosure campaigns are targeted at specific types of irregularities and may offer lower penalties or a more streamlined process. The WDF is the general disclosure facility for offshore matters. If a relevant campaign is available, it may be preferable to the WDF. The choice between a disclosure campaign and the WDF depends on the taxpayer's circumstances: (1) Scope — campaigns are targeted at specific types of irregularities (e.g., rental income, medical professionals). The WDF is for offshore income and gains generally. (2) Availability — campaigns are time-limited and may not be available for all types of irregularities. The WDF is always available for offshore matters. (3) Penalties — some campaigns offer the opportunity for lower penalties (e.g., 0% for an unprompted, careful disclosure with full cooperation). The WDF also offers lower penalties for unprompted disclosures, but the campaign may provide additional incentives. (4) Process — the campaign process is similar to the WDF (notification, disclosure, payment, review), but the campaign may have a more streamlined process. (5) Choice — if a relevant campaign is available, the taxpayer should generally use the campaign rather than the WDF, as it may offer lower penalties or a more streamlined process. If no campaign is available (or if the campaign has closed), the WDF is the appropriate route for offshore matters. (6) Specialist advice — the taxpayer should seek specialist advice to determine the best route and to ensure the disclosure is full and complete. In summary: check whether a relevant campaign is available first, and use the WDF if no campaign is available or if the irregularity does not fall within a campaign's scope. Relevant legislation: FA 2007, Schedule 24 (penalty framework); FA 2016, Schedule 18 (WDF); HMRC campaign guidance. Example: A landlord with undeclared rental income checks whether a campaign is available. The Let Property Campaign is open. They use the campaign, which may offer lower penalties or a more streamlined process than the WDF. A taxpayer with undeclared offshore bank interest finds no specific campaign available. They use the WDF, which is the general disclosure facility for offshore matters. Common mistake: Using the WDF when a relevant campaign is available. Campaigns may offer lower penalties or a more streamlined process, and using the WDF instead of a campaign can result in higher penalties or a more complex process.

What are the penalties under disclosure campaigns?

Penalties under disclosure campaigns are behaviour-based, similar to the WDF: 0-30% (careless), 20-70% (deliberate), 35-100% (deliberate and concealed). Some campaigns offer the opportunity for 0% penalty for an unprompted, careful disclosure with full cooperation. The penalty framework for disclosure campaigns is the same as the general penalty framework (FA 2007, Schedule 24): (1) Innocent error — no penalty (the taxpayer took reasonable care but made a mistake). (2) Careless — 0-30% of the additional tax (the taxpayer did not take reasonable care). (3) Deliberate — 20-70% (prompted) or 20-100% (unprompted) of the additional tax. (4) Deliberate and concealed — 35-100% (prompted or unprompted). The penalty is reduced for the quality of the disclosure (telling, helping, giving access). The opportunity for lower penalties in campaigns: (1) Unprompted disclosure — if the taxpayer discloses voluntarily (before HMRC contacts them), the disclosure is unprompted, and the penalty ranges start lower. (2) Full cooperation — a full disclosure with maximum cooperation can reduce the penalty to the bottom of the range. (3) 0% penalty — for an unprompted, careful disclosure with full cooperation, the penalty can be 0% (the bottom of the 0-30% range). This is the best possible outcome and is more likely in campaigns that encourage voluntary disclosure. However, not all campaigns offer 0% penalties, and the actual penalty depends on the taxpayer's behaviour and the quality of the disclosure. Specialist advice can help the taxpayer achieve the lowest possible penalty. Relevant legislation: FA 2007, Schedule 24 (penalty framework); HMRC campaign guidance. Example: A landlord participates in the Let Property Campaign, disclosing £20,000 of undeclared rental income. The behaviour is careless (the taxpayer did not take reasonable care to report the income). With a full, unprompted disclosure and maximum cooperation, the penalty is reduced to 5% of the additional tax = £400 (5% of £8,000 tax). If the behaviour was deliberate, the penalty range would be 20-100%, and the penalty (with a full disclosure) might be 30% = £2,400. Common mistake: Assuming that all campaigns offer 0% penalties. The penalty depends on the taxpayer's behaviour and the quality of the disclosure. Only an unprompted, careful disclosure with full cooperation can achieve 0%. Deliberate behaviour will always result in a penalty.

Tax Disputes › Disclosure

HMRC Offshore Disclosure Campaigns

HMRC runs targeted disclosure campaigns for specific offshore issues. Understand the campaign types, how they work, and how to use them to regularise your tax affairs with lower penalties.

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HMRC runs targeted disclosure campaigns for specific types of offshore irregularities, such as offshore income, foreign rental income, or cryptocurrency holdings. These campaigns offer taxpayers the opportunity to disclose and regularise their tax affairs, often with lower penalties than if HMRC discovers the irregularities first. Understanding the different campaign types and how to use them is essential for taxpayers with offshore tax issues.

What Are Disclosure Campaigns

HMRC disclosure campaigns are targeted initiatives that encourage taxpayers to disclose specific types of undeclared income or gains. The campaigns typically offer: (1) A structured disclosure process. (2) A penalty framework that can be lower than the standard penalty. (3) A time-limited opportunity to disclose. The campaigns are often targeted at specific taxpayer groups (e.g., offshore income, foreign property, cryptocurrency).

Types of Campaigns

HMRC has run various disclosure campaigns, including: (1) Offshore Income — for taxpayers with undeclared offshore income. (2) Let Property Campaign — for landlords with undeclared rental income. (3) Cryptoassets Disclosure — for taxpayers with undeclared cryptocurrency gains. (4) Medical Professionals — for doctors and dentists with undeclared income. (5) Plumbers and Electricians — for tradespeople with undeclared income. The campaigns are time-limited, and the specific terms vary.

The Campaign Process

The campaign disclosure process: (1) Notification — the taxpayer notifies HMRC that they want to participate in the campaign. (2) Disclosure — the taxpayer files the disclosure, including the tax due, interest, and penalties. (3) Payment — the taxpayer pays the amount due. (4) Review — HMRC reviews the disclosure and may ask for additional information. (5) Acceptance — HMRC accepts the disclosure. The process is similar to the WDF but may offer lower penalties or a more streamlined process.

Campaigns vs WDF

The choice between a disclosure campaign and the WDF depends on the taxpayer's circumstances: (1) Campaign — if the taxpayer's irregularity falls within the scope of a current campaign, the campaign may offer lower penalties or a more streamlined process. (2) WDF — if no campaign is available, or if the campaign has closed, the WDF is the general disclosure facility for offshore matters. The taxpayer should check whether a relevant campaign is available before using the WDF.

Key Points

What You Need to Know

HMRC runs targeted disclosure campaigns for specific types of irregularities
Campaigns can offer lower penalties or a more streamlined disclosure process
Campaigns are time-limited — the opportunity to disclose closes after a set period
The process is similar to the WDF: notification, disclosure, payment, review
Check whether a relevant campaign is available before using the WDF

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