Isle of Man to share data on UK taxpayers
Posted by mostafa on 21 February, 2013
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This item was filled under Tax
Taxpayers with money hidden in the Isle of Man are to be offered a three-year window in which to come clean without risk of major sanctions.
The disclosure initiative from HMRC will run from 6 April 2013 until September 2016. Liabilities arising since April 1999 will have to be fully disclosed in exchange for a guaranteed penalty rate of between 10% and 20% on unpaid tax.