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All That Glisters is Not Gold

Aileen Barry Director Tax Investigations DLA Piper considers the further implications of HMRC's offshore disclosure facility
Much publicity has been generated by the launch of the 'offshore disclosure facility' on 17 April (see Andrew Watts's article in The Tax Journal Issue 882 23 April 2007). The HMRC press release sets out the purpose of providing the facility gives the basic details and the website address ( where the forms and fuller explanation can be found.
The facility has been described as a golden opportunity and HMRC clearly hopes that the facility will be attractive to many thousands of taxpayers. HMRC must hope too that the media's role in publicising the facility together with communications from banks to their customers will suffice...

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