New Disclosure Opportunity - extension for registration to 4 January 2010
November 27th 2009
HMRC have now extended the deadline for registration under the New Disclosure Opportunity (NDO) from 30 November 2009 until 4 January 2010.
The deadlines for making the disclosure haven’t changed however. They remain 31 January 2010 (if made on paper) and 12 March 2010 (if made online) .
The registration extension is said to be because banks haven’t had enough time to notify their clients that they might be affected.
Dave Hartnett, HMRC’s Permanent Secretary for Tax is reported to have said:
“We know that some bank customers will not be contacted by their banks in good time for the original deadline of 30 November so in the interests of fairness we have decided to extend our deadline by a month to 4 January.
“I strongly urge anyone who has been hiding taxable assets offshore to go on line and register. The NDO is voluntary but from the start of the New Year we will begin to investigate those who were eligible to use the NDO but instead buried their heads in the sand. Don’t let that happen to you.
“This is a great way to start the New Year - with the knowledge that your tax affairs are in order and the certainty that the penalty will be capped at 10 percent.”
The HMRC news release can be accessed at:
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