James Bullock and Maria Piggin McGrigors LLP consider the future post offshore disclosure facility
22 June 2007 has come and gone. Taxpayers with offshore bank accounts and non-disclosure issues may or may not have notified HMRC of their intention to disclose under the offshore disclosure facility (ODF) and you may well be wondering as we are what lies ahead.
Taking first those taxpayers who have notified HMRC under the ODF. HMRC has stated that it will acknowledge all disclosures as soon as possible and in any event within four weeks of 22 June. Such taxpayers will then have until 26 November 2007 to calculate the tax interest and penalty and pay in full.
On the assumption that they comply with the 26...
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:
James Bullock and Maria Piggin McGrigors LLP consider the future post offshore disclosure facility
22 June 2007 has come and gone. Taxpayers with offshore bank accounts and non-disclosure issues may or may not have notified HMRC of their intention to disclose under the offshore disclosure facility (ODF) and you may well be wondering as we are what lies ahead.
Taking first those taxpayers who have notified HMRC under the ODF. HMRC has stated that it will acknowledge all disclosures as soon as possible and in any event within four weeks of 22 June. Such taxpayers will then have until 26 November 2007 to calculate the tax interest and penalty and pay in full.
On the assumption that they comply with the 26...
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:
