Tax amnesty expires today
Deadline today to use government offer
Deadline today to use government offer
Offshore account holders have only hours left to take advantage of the
amnesty guaranteeing a penalty of only 10% to reveal hitherto undisclosed
investments to the taxman.
HMRC issued a New Year message drawing attention to today’s [Mon Jan 4]
deadline for the New Disclosure Opportunity scheme and warn tomorrow [Tues 5
Jan] will be too late.
The Final Warning said notice of intent can be made online at
https://ndo.hmrc.gov.uk/ndo with full disclosure on paper by 31 January, or
online by 12 March, adding that 300 banks in the UK have been sent formal
demands for information and investigations will begin on Wednesday [5 March]
with penalties of up to 100% and the possibility of prosecution.
Financial Secretary Stephen Timms said: “The use of offshore accounts to
evade UK tax is illegal. It deprives the UK of tax revenues to fund essential
public services and is unfair to the vast majority of honest taxpayers who pay
what they should.”
More about:
The numbers you crunch tell a story. Your expertis...
14yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleUK-led beneficial ownership plans adopted in over 20 jurisdictions, including Gibraltar, Isle of Man and Montserrat Read More...
View articleCould investment into HMRC close the tax gap? Read More...
View articleExperts make tax planning sound easy, but it can go horribly wrong Read More...
View articleCan HMRC break the habit of a lifetime and get different datasets singing together in harmony? Read More...
View articleTaxman taps into evaders: HMRC’s plumber amnesty may encourage tax evaders of all professions to come forward Read More...
View articleA new amnesty for plumbers looks generous but experts say such offers should be used more widely Read More...
View articleTaxman gets tough: arrests over offshore accounts mark a new chapter in HMRC’s fight against tax evasion Read More...
View articleRetiring Swiss finance minister Hans-Rudolf Merz became an internet hit after collapsing in laughter during a speech in parliament – but he has been s...
View article