Offshore tax cheats urged to pay up now
PEOPLE with undeclared offshore tax liabilities are being urged to pay what they owe or face prosecution.
The new criminal offence of failing to declare taxable offshore income is set out in a new Her Majesty’s Revenue and Customs (HMRC) consultation paper.
HMRC says people who do no declare their tax liabilities will be chased up and prosecuted if they do not pay.
More information on the new consultation paper is available by heading online to view the document at www.hmrc.gov.uk
