The New Disclosure Opportunity (NDO) will allow people with unpaid taxes linked to offshore accounts or assets to settle their tax liabilities at a favourable penalty rate.
This scheme follows a similar facility in 2007 which collected circa GBP 400 million in additional tax.
The UK government has warned that this will be the last chance for those with unpaid tax connected to an offshore account to come forward and escape harsh penalties and possible criminal prosecution. Under the NDO scheme, the UK government expects the NDO to raise about GBP 2 billion in extra tax.
If you think you may be affected then find out the best way to take advantage of the NDO.
