Declaring unpaid tax before NDO could save money - PKF

Announced in the Budget, the NDO, due to launch in September is designed to encourage taxpayers with undisclosed income from offshore accounts to disclose it and pay a penalty or face further action. To use the last amnesty in 2007, taxpayers had to come clean about un-declared tax over the last 20 years and it is thought the NDO will also cover the same period. Therefore, it may be cheaper to voluntarily come forward now as the period they will be asked to declare could be much less, perhaps with only the last six years being amended, says John Cassidy, tax investigations partner at PK...