HMRC has warned its new disclosure opportunity (NDO) will be the final chance for people with unpaid taxes linked to offshore accounts to settle up.
The NDO is designed to be the last opportunity for people to make a complete and accurate disclosure between 1 September 2009 and 12 March 2010, qualifying for a 10% penalty, or face the risk of jail. Those who shun the chance and are subsequently found to have undeclared tax liabilities are likely to face a penalty of between 30% and 100% of unpaid tax, plus run the risk of criminal prosecution, warns HMRC. Customers will be able to contact HMRC on paper or through a dedicated area on the website. The penalty rate of 10% will also apply to those who were not contacted by HMRC unde...
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