HMRC offshore tax amnesty 'open to all'

The HMRC amnesty, the deadline for which is Friday, has been set up for offshore account holders to declare their intention to declare tax owed. But Philip Barnett, senior partner at Barnett Ravenscroft says that despite this month’s deadline, people actually have until November to pay any owed tax and, until then, the penalty rate will be capped at 10%. He says: “You will actually have until 26 November to make the payment of tax owed – together with any interest and penalties due. “And whilst you will still be penalised for any tax that you owe, the penalty rate will be capped at 10% o...