HMRC are offering the Isle of Man Disclosure Facility to UK Tax payers with bank accounts of assets held there. It provides an opportunity for eligible customers with assets or investments held in the Isle of Man to bring their UK tax affairs up to date. You can use the facility to make a full disclosure of outstanding liabilities and pay any amount due.

HMRC’s Isle of Man Disclosure Facility allows taxpayers to disclose hidden assets to HMRC, in return for some remarkable benefits.

These benefits encourage taxpayers to make a voluntary disclosure under the Isle of Man Disclosure opportunity.

What are the benefits of the Isle of Man Disclosure Facility?

  • HMRC will only go back to 1999. Normally HMRC go back 20 years.
  • Penalties of up to 10% up to and including the 2007/08 tax year. A penalty of 20% is chargeable in most circumstances thereafter. Normally, HMRC will seek a 30 – 100% penalty and new legislation allows HMRC to charge 200% penalties in certain circumstances.
  • No naming and shaming by HMRC.
  • Unlike the LDF, there is no minimum deposit requirement.

Act now and call our Isle of Man Disclosure Facility team on 0800 471 4546

If you have offshore assets or money held in the Isle of Man and want to register for the Isle of Man Disclosure Facility then call KinsellaTax today .

One of our dedicated tax investigation experts will hold a confidential discussion with you about your situation and the Isle of Man Disclosure Facility to give the assurances you really do need.

Take advantage of the Isle of Man Disclosure Facility now before you miss it – you have until 30 September 2016 to take advantage.

Don’t miss it. Call our team now on 0800 471 4546.

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