The Law Society has responded to HMRC’s consultation on ways to help taxpayers get their offshore tax right first time. The Society agrees that the use of offshore data to inform HMRC’s communications and prompts to taxpayers, and particularly to agents, could promote compliance but advises caution where the offshore data is incomplete or misleading. In particular the Society suggests that:
The Law Society has responded to HMRC’s consultation on ways to help taxpayers get their offshore tax right first time. The Society agrees that the use of offshore data to inform HMRC’s communications and prompts to taxpayers, and particularly to agents, could promote compliance but advises caution where the offshore data is incomplete or misleading. In particular the Society suggests that: