Second amnesty plan expected in Budget

HM Revenue and Customs has learnt from its first tax amnesty in 2007 and will be referring to the second amnesty as the 'New Disclosure Opportunity’, according to mid-tier firm RSM Bentley Jennison.

The firm expects details of the second amnesty to be part of tomorrow's Budget announcements.

'[The first amnesty] unwittingly gave the impression that it related only to funds held in offshore bank accounts', said Gary Brothers, head of tax investigations at RSM Bentley Jennison.

According to Brothers, HMRC wants all taxpayers to know that this opportunity covers all cases of tax evasion and not just those related to offshore activities.

Further Reading:

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