Person A is a PAYE worker and has had a foreign property for 10 years and receives rental income of around €6,000 a year (not taxable in foreign country). He has never declared it to Revenue. He wants to get his affairs in order now (voluntary disclosure).
Does he need to calculate interest and penalties himself and contact Revenue (voluntary disclosure)? Isn't the interest likely to be huge and is it negotiable?
Does he need to calculate interest and penalties himself and contact Revenue (voluntary disclosure)? Isn't the interest likely to be huge and is it negotiable?