Offshore disclosure arrangements

HMRC reminds account holders of 22 June deadline

We are writing to offshore account holders whose details we have obtained, reminding them that they have until 22 June to notify us of their intention to make a disclosure. You may receive queries from your clients about this over the next week. We are not writing to account holders where there is any ambiguity about the address supplied to us and in those cases we are conducting further checks.

Our disclosure arrangements enable account holders with unpaid tax to bring their tax affairs up to date. Those coming forward are required to pay tax, interest and a 10% penalty of the tax underpaid.

Notifying is quick and easy - it only takes a few minutes and we don’t need any of your client’s financial details at this stage. Further information is available from our disclosures page or from our dedicated telephone helpline 0845 302 1401.

Once a notification has been made, the deadline for submitting a detailed disclosure and payment is 26 November 2007.

Read HMRC’s letter to offshore account holders.