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PHIL BERWICK considers the practical aspects of HMRC’s tax health plan
KEY POINTS
- Notification to register must be made by 31 March 2010.
- Disclosure of irregularities (and payment) must be made by 30 June 2010.
- 10% fixed penalty ‘in most cases’.
- Higher penalty where failure to disclose under the offshore disclosure facility or the NDO.
- Consider switching to LDF where qualifying account held.
In his recent article I'm a medic! Mike Truman expressed his concerns about HMRC’s tax health plan (THP). Those concerns not least of which is the interaction between HMRC’s various disclosure facilities are shared by many in the profession and not just those who deal with disclosures or investigation work.
In this article I will deal with the practicalities of dealing with disclosures under the THP.
Who qualifies?
The THP disclosure facility opened on 11 January 2010;...
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