Revenue & Customs Brief 14/11 explains how FA 2010 Sch 10 allows for a higher penalty, of up to 200%, where people fail to declare income or gains arising offshore.
For 2011/12 onwards, the penalty is linked to the ‘tax transparency’ of the territory in which the income or gain arises.
Revenue & Customs Brief 14/11 explains how FA 2010 Sch 10 allows for a higher penalty, of up to 200%, where people fail to declare income or gains arising offshore.
For 2011/12 onwards, the penalty is linked to the ‘tax transparency’ of the territory in which the income or gain arises.
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