NDO start date 'red-herring', says adviser
30 Sep 2009, David Jetuah, AccountancyAge
http://www.accountancyage.com/aa/news/1747157/ndo-start-date-red-herring-adviser
HMRC's crackdown on tax dodgers starts in earnest tomorrow as people are given the chance to make online notifications.
The clampdown offically kicked off a month ago on 1 September as the New Disclosure Opportunity went live, but this was only open to those wanting to notify the taxman by post.
Advisers have now renewed calls for people not to hang back from making disclosures.
"The September start date is a bit of a red-herring," said John Cassidy, tax investigations partner at PKF.This refers to paper disclosures. The revenue expects most people to apply online for which the start date is 1 October,"
Those with undeclared offshore income must notify HMRC by 30 November 2009 of their intention to make a disclosure.
Taxpayers can then disclose and pay by post until 31 January 2010
and online until 12 March 2010.
Advisers say individuals have been slow in coming forward and urged people to clarify their positions to avoid getting caught out.
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Visitor comments
Disclosure of Bank acount details
There seems to be a fundamental contradiction between the concept of the European Savings Directive and the Taxman's demands for disclosure. I am mystified why the ESD witholding tax was not originally set so high that there would have been be no need to make a disclosure. I wanted to keep my Bank details private and that means private from anyone including HMRC
Posted by: Chris Silva , 11 Nov 2009 | 00:00