In the summary of responses to its consultation on Helping taxpayers get offshore tax right, the government has proposed innovative ways to assist taxpayers to identify and declare their non-UK income and assets.
As part of the development of its No safe havens 2019 strategy on 20 July 2022 the government published the summary of responses to its discussion document entitled Helping taxpayers get offshore tax right. This follows a period of consultation and interactive engagement with key stakeholders.
The consultation considered how to make it easier for taxpayers with non-UK income and gains to declare the right amount of tax first time including how to address common errors made by taxpayers relating to offshore tax compliance. The consultation outcome acknowledges that these errors are caused by several factors including: the complexity of the legislation; a lack of awareness of offshore tax obligations; a lack of clarity in guidance and communications; reliance on anecdotal advice and asking for professional help...
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Home >Articles > No safe havens: next steps in helping taxpayers get offshore tax right
No safe havens: next steps in helping taxpayers get offshore tax right
In the summary of responses to its consultation on Helping taxpayers get offshore tax right, the government has proposed innovative ways to assist taxpayers to identify and declare their non-UK income and assets.
As part of the development of its No safe havens 2019 strategy on 20 July 2022 the government published the summary of responses to its discussion document entitled Helping taxpayers get offshore tax right. This follows a period of consultation and interactive engagement with key stakeholders.
The consultation considered how to make it easier for taxpayers with non-UK income and gains to declare the right amount of tax first time including how to address common errors made by taxpayers relating to offshore tax compliance. The consultation outcome acknowledges that these errors are caused by several factors including: the complexity of the legislation; a lack of awareness of offshore tax obligations; a lack of clarity in guidance and communications; reliance on anecdotal advice and asking for professional help...
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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