CIOT comment on New Disclosure Opportunity announcement by HMRC

CIOT comment on New Disclosure Opportunity announcement by HMRC

CIOT comment on New Disclosure Opportunity announcement by HMRC

Gary Ashford, Chairman of the CIOT’s Management of Taxes Sub-Committee, comments on the latest HMRC announcement on the new disclosure opportunity.

“The CIOT welcomes the priority that HMRC has given this and that they are publicising this opportunity. We believe it is significant that the penalty for those who had the chance under the ODF and did not disclose has been set at 20% as HMRC have been seeking 30 – 35% on such cases where they have already opened enquiries. HMRC are making this opportunity as attractive as possible by setting the penalty at that level.”

If you would like further comment on this matter please contact me via email or my direct line – 020 7340 0569

Simon Goldie
Head of External Relations
D: +44 (0)20 7340 0569
M: +44 (0)7879 497316
The Chartered Institute of Taxation
Registered charity number 1037771
www.tax.org.uk