New Disclosure Opportunity (NDO) - Live from 1 September 2009
September 4th 2009
HMRC have announced further details regarding the New Disclosure Opportunity (NDO).
HMRC say
“If you have unpaid tax linked to an offshore account or asset to declare you will need to notify us AND disclose (tell us the details, calculate the amount due and make a full payment) to benefit from the terms of NDO.”
HM Revenue & Customs (HMRC) is providing this opportunity on favourable terms for customers with an offshore account or asset, linked directly or indirectly to a loss of United Kingdom tax. You can come forward voluntarily and put your affairs in order.
HMRC will not offer these preferential terms to offshore account and asset holders again.
To take advantage of the New Disclosure Opportunity (NDO) customers must notify HMRC by 30 November 2009 of their intention to make a disclosure. This is a simple process. At this stage you do not need to provide any details of the tax you believe you owe.
You can Notify:
- By phone on 0845 302 1401 (international +44 1506 476 094)
- By post completing the relevant part of either form NDO2 or NDO3 in the booklet ‘Completing the disclosure forms’
- By email - electronically complete the information required in a Notification eform before October 2009
- Online using the NDO online service from October 2009
You can Disclose and pay
- By post until 31 January 2010 - you must use the forms contained in NDO1(F).
- Online until 12 March 2010 - the NDO online service is available from 1 October 2009”
More details and information booklets are available at:
http://www.hmrc.gov.uk/offshoreaccounts/offshore-ndo.htm
Please call Iain Macleod on 07920 146800 for a free confidential discussion or email imacleod@edftax.co.uk.
