A person who has always lived in Ireland purchased a UK investment property 10 year ago and is paying UK tax on the property. However, it has never been declared to the Revenue Commissioners through ignorance rather than deception.
If he decides to contact Revenue voluntarily, will he have to pay any underpaid tax plus interest and penalties for all 10 years or is there a time limit?
If he decides to contact Revenue voluntarily, will he have to pay any underpaid tax plus interest and penalties for all 10 years or is there a time limit?