TaxPersonal TaxTax amnesty branded ‘unfair playing field’

Tax amnesty branded 'unfair playing field'

Mid-tier firm labels disclosure opportunity unfair for those with outstanding tax liabilities onshore only

HMRC building

The new disclosure opportunity being conducted by HM Revenue & Customs
has been labelled as representing an ‘unfair playing field’ for taxpayers with
onshore tax liabilities only.

Gary Ashford, national head of tax risk and dispute resolution at RSM Bentley
Jennison, said disclosing taxpayers need to ensure they submit information on
unpaid taxes offshore as well as liabilities in onshore accounts.

Wholly domestic disclosures are not within the scope of the NDO, and those
taxpayers will be subject to the standard HMRC penalty structure.

‘This could create an unfair position for those with UK only problems. It
would be better to create a disclosure opportunity for all irregularities, other
than the most serious, whether it be offshore or onshore for the period of the
NDO,’ he said.

The Chartered Institute of Taxation said the HMRC briefing refers to offshore
disclosures, but ‘omits to discuss purely onshore disclosures’. The CIoT said
its continuing to ask for this to be covered in guidance.

Further Reading:

hmrc.org.uk

HMRC
officially kicks off second tax amnesty

Low
profile may limit amnesty’s success tax

Amnesty
dates revealed for overseas account holders

Related Articles

LITRG urges government to consider tax changes in disability work plan

Administration LITRG urges government to consider tax changes in disability work plan

5d Lucy Skoulding, Reporter
HMRC urged to clarify impact of income allowances on Self-Assessments

Personal Tax HMRC urged to clarify impact of income allowances on Self-Assessments

2m Alia Shoaib, Reporter
HMRC tax evasion assistance requests double in five years

Corporate Tax HMRC tax evasion assistance requests double in five years

5m Emma Smith, Managing Editor
Rangers tax case to have ‘dramatic’ consequences for football and business

Legal Rangers tax case to have ‘dramatic’ consequences for football and business

5m Emma Smith, Managing Editor
HMRC collects record £5bn in inheritance tax

HMRC HMRC collects record £5bn in inheritance tax

6m Emma Smith, Managing Editor
The top three issues that the next government must address for accountants

Making Tax Digital The top three issues that the next government must address for accountants

6m Emma Smith, Managing Editor
HMRC cuts over 150 offices to reduce running costs

Corporate Tax HMRC cuts over 150 offices to reduce running costs

11m Stephanie Wix, Writer
Finance Bill 2017: Corporate tax reporting requirements 'a burden'

Business Regulation Finance Bill 2017: Corporate tax reporting requirements 'a burden'

1y Stephanie Wix, Writer