Advisers are urging offshore account holders not to hang back if they want to
avoid missing out on the government’s tax amnesty.
HMRC’s New Disclosure Opportunity kicked off at the beginning of the month
alongside the Liechtenstein Disclosure Facility.
Dawn Register, senior manager in Tax Investigations at BDO Stoy Hayward said:
“They have a very short time period to make their disclosures and qualify for
the amnesty by the end of 30 November.”
The Liechtenstein agreement has easier terms than the NDO. One major
difference is that the Liechtenstein deal restricts any disclosure to a maximum
of only 10 years, unlike the 20 years of the NDO, which has caused controversy.
Report argues that the government must change the way it makes tax and budget decisions
Drastically fewer offices for HMRC in the hope to reduce their running costs
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Companies must report on their complex financial structures including offshore accounts and notify HMRC