TaxPersonal TaxBudget 09: Darling confirms amnesty timing

Budget 09: Darling confirms amnesty timing

Details of second offshore disclosure facility announced

Chancellor Alistair Darling has outlined details of the second tax amnesty as
part of today’s Budget announcement.

Referred to as the New Disclosure Opportunity (NDO), the amnesty will be
undertaken for holders of offshore accounts and will run until March 2010.

According to a statement, ‘this will give holders of these accounts the
opportunity to disclose, of their own accord, if they have unpaid tax or duties
and to settle debts. HMRC is also seeking to issue notices requiring financial
institutions to provide information about offshore account holders.’

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