Alistair Darling's move to introduce a fresh tax amnesty inviting holders of offshore accounts to disclose any unpaid tax has been dubbed "disappointing" for its "serious" lack of detail by accountancy giant PKF says.
It welcomes the announcement of the new Offshore Disclosure Facility (ODF), which calls on holders to settle up or face repercussions, but says details such as the penalty facing those who do not comply remain vague. It adds Wednesday's announcement was already unveiled in last November's Pre-Budget Report (PBR), but has just been given new dates. Designed to allow holders of offshore accounts an opportunity to voluntarily disclose any unpaid tax or duties and to settle debts, the Budget warns: "HMRC will pursue those who do not disclose." "Despite being long awaited, there are no det...
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