September 2009

Michelle Sloane and Joanna Sharr, solicitors at The Khan Partnership, summarise HMRC's new disclosure opportunity

HM Revenue & Customs (HMRC) has launched a new offshore disclosure initiative called the "New Disclosure Opportunity" (NDO), to allow people with unpaid taxes linked to offshore accounts or assets to voluntarily settle their tax liabilities at a favourable penalty rate.   The NDO starts on 1 September 2009 and ends on 12 March 2010.

Michelle Sloane and Joanna Sharr, solicitors at The Khan Partnership, summarise HMRC's new disclosure opportunity in the article below. 

HMRC's new disclosure opportunity_a second chance to wipe the slate.pdf