Don't get swept away by new offshore requirements - Keeley Paddon, Head of Pensions Technical
Advisers may find themselves vulnerable to paying out a £3,000 tax penalty if they do not comply with the requirements for offshore accounts and legislation imposed by HM Revenue and Customers by the August 2017 deadline.
- The HMRC legislation change aims to improve both the transparency and perception of offshore taxation
- Advisers, accountants and solicitors will need to take note as they may all have clients who are affected by the requirements
- Advisers need to remain mindful that a wide range of product types fall under the new legislation
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