View all newsletters
Have the short, sharp Spear's newsletter delivered to your inbox each week
  1. Wealth
May 14, 2009

UK offshore tax amnesty may return for a third time

By Spear's

Some accountants and tax advisors, criticising the timing of the UK Treasury’s second offshore tax amnesty, believe a third amnesty may have to be launched.

Some accountants and tax advisors, criticising the timing of the UK Treasury’s second offshore tax amnesty, believe a third amnesty may have to be launched.

Mike Down, chairman of the tax risk and investigations management group at Baker Tilly, wouldn’t be surprised if HMRC were to announce a third amnesty, saying, “It’ll be a bit like a Status Quo tour -you’ll get one every year.”

Experts like Down, quoted by Accountancy Age, claim the new amnesty, officially termed a New Disclosure Opportunity (NDO), comes at a bad time and will put a ‘huge strain’ on tax advisers as it coincides with key tax-year dates.

The Budget consultation paper revealed the second amnesty will run until March 2010 but did not specify when the disclosure would commence. Many observers have speculated it would need to launch in the autumn to allow sufficient time for taxpayers to voluntarily disclose.

For further details, visit thewealthnet

Content from our partners
Porto Montenegro: Adriatic Elegance Tailored to You
Family office gold rush in Hong Kong
Top of the league for football fans

Select and enter your email address The short, sharp email newsletter from Spear’s
  • Business owner/co-owner
  • CEO
  • COO
  • CFO
  • CTO
  • Chairperson
  • Non-Exec Director
  • Other C-Suite
  • Managing Director
  • President/Partner
  • Senior Executive/SVP or Corporate VP or equivalent
  • Director or equivalent
  • Group or Senior Manager
  • Head of Department/Function
  • Manager
  • Non-manager
  • Retired
  • Other
Visit our privacy policy for more information about our services, how Progressive Media Investments may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications.
Thank you

Thanks for subscribing.

Websites in our network