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FT News - Markets
Mon, 15 Mar 2010 22:34:32 +0000
The upmarket central London department store has sold its main mock-Tudor shop for£41.5m as bidders lined up to buy the rest of the business
Mon, 15 Mar 2010 20:29:01 +0000
The British Gas owner beat the trend on Monday, gaining 1.6%, as the FTSE 100 showed its sharpest loss in three weeks
Mon, 15 Mar 2010 18:10:34 +0000
The relationship between bonds and derivatives in the UK and the US is being distorted by record government debt issuance
Mon, 15 Mar 2010 23:40:48 +0000
Royal Bank of Scotland is planning a vast balance sheet restructuring in a bid to boost its capital strength and its standing with bond investors
Mon, 15 Mar 2010 23:35:07 +0000
Tom Attwood is to resign as chief executive of Intermediate Capital Group, as it announces a strategic shift to focus on broader third-party fund management
New Disclosure Opportunity
HMRC have provided more details of the New Disclosure Opportunity (NDO) which is due to take place from 1 September 2009 to 12 March 2010. The NDO is for people with unpaid tax connected to offshore accounts and assets and will give the taxpayers one final opportunity to disclose.
To encourage taxpayers to disclose undeclared offshore income and gains, the penalty level has been set at 10%. HMRC hope that the low penalty will encourage taxpayers to come forward.
Although the NDO period runs until 12 March 2010 initial contact must be made to HMRC by 30 November 2009.
Dave Hartnett, HMRC Permanent Secretary for Tax, said:
“I know there are people who regret not taking advantage of our Offshore Disclosure Facility (ODF) in 2007 which focused primarily on the customers of five large banks. Now everybody who has not paid the tax they should in relation to offshore accounts or assets has this New Disclosure Opportunity to pay what they owe with penalties on more favourable terms than normal.”
“The procedure is simple and straightforward. Customers will be able to contact us on paper or through a dedicated area of our website. This will be the last opportunity of its kind.”
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