17 Apr 2007 11:30 AM
Offshore Accounts

HM REVENUE AND CUSTOMS News Release (NAT 27.07) issued by The Government News Network on 17 April 2007

HMRC has today announced arrangements enabling investors with offshore accounts to disclose to HMRC any income and gains not previously included in their tax returns. Details of the arrangements are available at https://disclosures.hmrc.gov.uk or by calling 0845 302 1401.

Notes for editors

1. Using statutory powers, HMRC has obtained from various financial institutions details of offshore accounts and credit cards held by UK residents.

2. To use these arrangements, investors will need to notify HMRC by 22 June 2007 of their intention to make a disclosure and then make their disclosure by 26 November 2007.

Issued by HM Revenue & Customs Press Office

Website http://www.hmrc.gov.uk