News Archive - July 2009

HMRC 'New Disclosure Opportunity'

09/07/2009

HM Revenue and Customs (HMRC) has announced details of the new offshore bank account disclosure scheme, which is due to commence in September 2009. Following a meeting with tax practitioners, HMRC has confirmed that the penalty for full disclosure under the scheme, of income connected to a hitherto undeclared offshore account, will be 10%. However,...
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US Pressure increasing on UBS

04/07/2009

In escalating efforts by the US government to combat tax evasion, officials will advance their campaign to force UBS to release the names of thousands of American customers holding offshore accounts with the Swiss bank. The Department of Justice, in a filing with a Miami district court, said UBS should be ordered “to comply in full’’...
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