TaxPersonal TaxHMRC holds private talks with profession over tax amnesty

HMRC holds private talks with profession over tax amnesty

Working party meets to thrash out details of New Disclosure Opportunity

The first working party consultative meeting between the profession and HMRC
over the second round of offshore tax disclosures has taken place behind closed
doors.

Representatives from industry bodies including the ICAEW, CIoT, ACCA, ICAS
and the Tax Investigations Practice Group were in attendance.

None of the attendees present were willing to discuss details of the meeting
when contacted by Accountancy Age, however a spokesman for HMRC
confirmed the meeting took place on 18 May at HMRCs headquarters on Parliament
Street.

He said the discussions focused on the design of the New Disclosure
Opportunity, including the penalty to be applied to disclosing taxpayers.

The outcome of the meeting remains confidential, according to the spokesman,
as certain elements of the amnesty are yet to be finalized.

‘We wanted people to express opinions. We were in listening mode…we weren’t
there to lecture people. It was a positive meeting,’ he said.

Further Reading:

Exclusive:
Taxman pursues blanket bank disclosure notice

Second
amnesty badly timed, say tax experts

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