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Where Taxpayers and Advisers Meet

offshore accounts

GOLDTHORPE
Posts:1
Joined:Wed Aug 06, 2008 3:53 pm

Postby GOLDTHORPE » Mon May 07, 2007 11:27 am

Could someone please clarify what info and how far back one has to go to comply with the non disclosed interest received from offshore accounts, to comply with the June deadline

Brian Clarke
Posts:248
Joined:Wed Aug 06, 2008 3:42 pm
Location:London / SE England

Postby Brian Clarke » Mon May 07, 2007 11:57 am

What is required is a full disclosure of all undeclared or underdeclared tax going back up to 20 years. Estimates are required where you know there is a problem but you no longer have the figures. Read the details here:

https://disclosures.hmrc.gov.uk/oaics/o ... eforms.pdf

The June deadline is just for notifying that you have something to disclose. You have till November to make the detailed disclosure.

Brian
bctax[at]BrianClarke[dot]com
Brian Clarke
www.BrianClarke.com

Taxbar
Posts:1187
Joined:Wed Aug 06, 2008 2:19 pm

Postby Taxbar » Wed May 09, 2007 4:06 am

The best thing you can do is approach a professional in this field, as those dealing directly with HMRC may merely be opening up their affairs to a full Investigation.

Strategic Tax Planning
info@stratax.co.uk


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