Affordable Cremation Urns Florida VA Loans News The Corrections: taxpayers required to address errors in offshore tax reporting by 30 September 2018 or face stringent new penalties

The Corrections: taxpayers required to address errors in offshore tax reporting by 30 September 2018 or face stringent new penalties

Tackling Offshore Tax Evasion: A Requirement to Correct Taxpayers will be obliged to disclose any outstanding UK tax related to offshore investments or assets, or face ‘failure to correct’ penalties. These penalties will be significantly higher than for those who voluntarily put their affairs in order, and will be a minimum of 100%.

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Yes No Indicate by check mark if the registrant is not required. smaller reporting company Indicate by check mark whether the registrant is a shell company (as defined in 12b-2 of the.

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For those that fail to correct any errors before 30 September 2018, the penalty will start at 200% of the tax due. This can be reduced, but to no lower than 100% of the tax due. Any reduction will be based on the quality of the disclosure, co-operation and the seriousness of the behaviour.

 · Tackling Offshore Tax Evasion: A Requirement to Correct Taxpayers will be obliged to disclose any outstanding UK tax related to offshore investments or assets, or face failure to correct’ penalties. These penalties will be significantly higher than for those who voluntarily put their affairs in order, and will be a minimum of 100%.

 · In general, voluntary disclosures will include a six-year disclosure period, which means that participating taxpayers will be required to file corrected tax returns for the most recent six-year.

Yes No Indicate by check mark if the registrant is not required to file reports pursuant to Section. a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the.

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