HMRC recently announced a second offshore tax amnesty period for individuals to disclose undeclared interest and gains from investments.

In many cases, this tax amnesty will allow individuals to reduce substantially the penalties which may be enforced when the income is eventually declared. These penalties could be up to 100% of the tax not yet declared or even a criminal conviction.

To find out more please call our offshore disclosure helpline on 0161 968 7390 between the hours of 09.00 -  17.00,  Monday to Friday.

Click here for more details of the New Disclosure Opportunity

We are pleased to offer a special service to ensure that you may take full advantage of this opportunity. Under this we will:

• Confirm your residence and domicile status as required
• Determine the item(s) to be disclosed and the number of years involved
• Prepare and submit the relevant HMRC ‘Intention to Disclose’ forms
• Calculate the correct tax liability for all years
• Prepare relevant disclosure forms
• Calculate any interest and penalties
• Prepare an ‘offer to pay’ and disclosure certificate for HMRC on your behalf
• Send all forms for your signed approval that disclosure is correct and complete
• Advise you of any amounts you need to pay and due dates
• Submit all completed forms to HMRC

This service will be on a pre-agreed fee basis, depending on the individual case.

During the first "amnesty" in 2007 we helped a large number of clients declare their income and pay the correct tax. Primarily the amnesty was aimed at offshore accounts, but undeclared UK accounts were treated in a similar fashion. Although this may happen again HMRC have not confirmed it as yet.

Making their disclosure in good time meant in most cases a significant saving on possibly increased penalties.

If you think you may be affected by this, please contact us for a free consultation and to discuss how we can assist you.

Managing Director Bernard Oster states:

"Individuals who need to make a disclosure would be wise to do so now as H M Revenue & Customs have indicated that this is their last chance to bring their affairs up to date without excessive penalties being imposed"

To find out more please call our offshore disclosure helpline on 0161 968 7390 between the hours of 09.00 -  17.00,  Monday to Friday.