HM Revenue &
Customs has indicated that a second ‘amnesty’ is on the cards, but suggested
the opportunity would only be for account holders at the banks targeted by the
taxman’s second wave of disclosure orders.
Baker Tilly head of tax George Bull told Accountancy Age that the
taxman would find it ‘impossible’ to start another facility. ‘They are opening
themselves up to major challenges if the second facility is restricted to the
second set of banks. You’d have a situation where the penalties you face [as a
tax evader] depend on where you bank. There’s no certainty, or fairness,’ said
Dave Hartnett, now acting chairman at HMRC, said a fortnight ago: ‘We want to
offer something similar to those who haven’t received letters from their banks.
We haven’t quite worked out how to do it yet.’
Plans for a second offshore facility are on hold, advisers suggested, while
the taxman works on the fiasco over the lost child benefit data. HMRC is
understood to be pressing ahead with the moves, however.
Crowe Clark Whitehill , the top 20 accountancy firm, has announced the promotion of Chris Mould to partner
The latest opinions from Accountancy Age on Making Tax Digital, and outline plans to evolve the UK's corporate governance regime
Five million taxpayers are ow using digital personal tax accounts (PTA) as part of the making tax digital strategy, HMRC said
UK-based non-doms have paid ten times more tax than the average taxpayer, raising concerns over the Brexit impact on non-dom contributions and therefore, the economy