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Support for taxpayers with offshore income

30 March 2021
Issue: 4786 / Categories: News

HMRC has published a discussion document Helping taxpayers get their offshore tax right. This includes considering what may cause taxpayers to make common errors and some initial ideas on to address them. A key part of this involves HMRC using the offshore data it receives in different ways to ensure taxpayers disclose their income correctly first time. This could be by personalising tax returns removing opportunities to make errors or by sharing data and contacting taxpayers and their advisers earlier to prevent non-compliance before it happens.

Responses should be emailed by 15 June to

The Low Incomes Tax Reform Group supports this approach saying it seemed to be targeted at taxpayers who make non-deliberate mistakes in reporting - or not reporting - their offshore income and gains. Senior technical manager Kelly Sizer said: ‘We hope that these changes will mean it is...

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