Robin Williamson Technical Director of the Low Incomes Tax Reform Group considers some of the latest developments affecting unrepresented taxpayers on low incomes
Offshore disclosure facility
For some months now HMRC has been working hard on the question of undisclosed offshore liabilities. A court victory has allowed HMRC to require banks to disclose details of offshore accounts held by individuals living in the UK. Finally months of press speculation of an impending 'amnesty' culminated in an official announcement on 17 April when HMRC set out the terms on which it would offer favourable treatment to taxpayers who came clean.
As is now well known the 'deal' on offer mainly covers hitherto undisclosed offshore liabilities...
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Robin Williamson Technical Director of the Low Incomes Tax Reform Group considers some of the latest developments affecting unrepresented taxpayers on low incomes
Offshore disclosure facility
For some months now HMRC has been working hard on the question of undisclosed offshore liabilities. A court victory has allowed HMRC to require banks to disclose details of offshore accounts held by individuals living in the UK. Finally months of press speculation of an impending 'amnesty' culminated in an official announcement on 17 April when HMRC set out the terms on which it would offer favourable treatment to taxpayers who came clean.
As is now well known the 'deal' on offer mainly covers hitherto undisclosed offshore liabilities...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
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