The CIOT and ATT have issued a note for their members giving practical guidance for advising clients on the requirement to correct offshore tax non-compliance by 30 September.
The note is arranged under broad headings which cover:
what has to be corrected;
professional advice that can be relied upon to provide a reasonable excuse and ‘disqualified advice’;
asset-based penalties and what constitutes ‘awareness’ of non-compliance; and
interaction with disguised remuneration loan charge settlement terms.
The CIOT and ATT have issued a note for their members giving practical guidance for advising clients on the requirement to correct offshore tax non-compliance by 30 September.
The note is arranged under broad headings which cover:
what has to be corrected;
professional advice that can be relied upon to provide a reasonable excuse and ‘disqualified advice’;
asset-based penalties and what constitutes ‘awareness’ of non-compliance; and
interaction with disguised remuneration loan charge settlement terms.
.tmb-editorspic.jpg?sfvrsn=df04ab27_1)
