Island tax cheats told to come clean

Tax evaders have until 30 September 2016 to disclose hidden assets or investments and pay the tax, interest and any penalties due. At the end of this period, HMRC will automatically receive information from banks in Jersey, Guernsey and the Isle of Man identifying all account holders, under ground-breaking agreements to tackle tax evasion. The disclosure facility allows people to voluntarily settle their tax affairs before HMRC starts to target fraudsters who refuse to comply. Those who ignore the disclosure opportunity could face criminal prosecution, significantly higher penaltie...