baypond Posted September 7, 2009 Share Posted September 7, 2009 I received a nice letter from my employer informing me that they are obliged to disclose all details of overseas accounts in my name. End of year statements for 2003 2005 and 2007 are required.I have absolutely nothing to fear from an investigation as every financial payment/receipt has been 100% above board. However this raises a big conundrum for anyone who has overseas holiday homes (often advertised for holiday rental) and has not declared any income at home or abroad. I am sure I am going over old ground here, but with this new development, here is the website for the 'New disclosure opportunity' which is giving people one last chance to comply.www.hmrc.gov.uk/offshoreaccounts/offshore-ndo.htmGood luck Link to comment Share on other sites More sharing options...
AnOther Posted September 7, 2009 Share Posted September 7, 2009 What's the bets that HMRC be will be grassing up offenders to the French taxman too [blink]Hark!Is that the squeals of anguish I hear already [Www] Link to comment Share on other sites More sharing options...
baypond Posted September 7, 2009 Author Share Posted September 7, 2009 The wording on my letter says it all I think.'HMRC's intent is to allow people with unpaid taxes linked to offshore accounts or assets to settle their liabilities at a favouable penalty rate.'In other words pay up or you are in real trouble if caught. Link to comment Share on other sites More sharing options...
woolybanana Posted September 7, 2009 Share Posted September 7, 2009 Is back dating legal in these cases, and for how long, 2003 seems a bit far back? Beware of fishing trips too. Foreign accounts are quite legal but non declaration of income is not. Be careful as HMRC are basically out to trap people, no question of fairness of honesty. Link to comment Share on other sites More sharing options...
AnOther Posted September 7, 2009 Share Posted September 7, 2009 Unpaid tax liabilities to them, yes, but let's not kid ourselves, a lot of people will be working the system and possibly have liabilities in France also. Link to comment Share on other sites More sharing options...
mint Posted September 7, 2009 Share Posted September 7, 2009 Not before time..................[;-)] Link to comment Share on other sites More sharing options...
woolybanana Posted September 7, 2009 Share Posted September 7, 2009 Protecting one's assets against a predatory government is legitimate. 170,000 parasites in the NHS for example. Link to comment Share on other sites More sharing options...
Dog Posted September 7, 2009 Share Posted September 7, 2009 I wonder if Phillip Green may now pay some tax or are all the little people being chased to pay for him? Link to comment Share on other sites More sharing options...
Iceni Posted September 7, 2009 Share Posted September 7, 2009 I am sure that PG pays all the tax that he is obliged to pay - perhaps HM Treasury should use the same advisers.John Link to comment Share on other sites More sharing options...
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