Storm over tax ‘amnesty’ security checks – Tax, Money – The Independent. Storm? Come on – actually a form trying to make excuses as to why the amnesty should not work. So one or two names will be listed that should not be. Yes, that’s an issue. And at some time in the future they
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Is HMRC Getting Desperate in Tax Haven Clampdown?. “Shlter Offshore” – unsurprisingly – says it is, but the telling line is: The truth of the matter, according to some financial experts such as Ronnie Ludwig, partner in the private wealth group at Saffery Champness, is that HMRC is stretched to the limit in terms of
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HM Revenue & Customs (HMRC) has confirmed the details of a new disclosure initiative that will allow people with unpaid taxes linked to offshore accounts or assets to settle their tax liabilities at a favourable penalty rate. Under the New Disclosure Opportunity (NDO) people who make a complete and accurate disclosure between 1 September 2009
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The budget says Offshore disclosure A New Disclosure Opportunity (NDO) for holders of offshore accounts will run until March 2010. This will give holders of these accounts the opportunity to disclose, of their own accord, if they have unpaid tax or duties and to settle debts. HMRC is also seeking to issue notices requiring financial
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Accountancy Age has reported: The second tax amnesty for holders of offshore accounts will impose penalties significantly higher than the first scheme, Accountancy Age has learned, with experts expecting HM Revenue and Customs to treble the charge to 30% of the outstanding tax. A source close to the planning of the amnesty said that it
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Accountancy Age has been digging about the prospect of another UK tax amnesty. The last only really affected the activities of the UK’s five biggest banks – Barclays, Lloyds, HBOS (as was), HSBC and RBS. It successfully showed the massive support they provide to those who evade their taxes using the Crown Dependencies – for
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Last year’s ‘tax amnesty’ in the UK worked: about 45,000 people who had hidden cash in tax havens paid up. Almost 20,000 more declared they had such cash and then did not pay. It’s believed more than 30,000 others were written to and did not respond. But the amnesty dealt with customers of just five
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The Times has reported that: HM Revenue & Customs has clawed back £400 million from people with offshore bank accounts after it granted a partial amnesty. The holders of about 45,000 offshore accounts, many of which are in tax havens such as Guernsey and Jersey, owned up to unpaid tax bills before the November 26
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The PWC web site (which is well protected by passwords – heaven knows why) has the follwoing to say this week on action needed on the UK tax amnesty: The period allowed to notify the intention to disclose information on offshore bank accounts under the Offshore Disclosure Facility (ODF) ended on 22 June 2007 with
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