Lamport Bassitt Solicitors - Legal News - Tax deadline looms, HMRC warns


	LATEST LATEST LEGAL NEWS ARCHIVE		LATEST NEWS & EVENTS Tax deadline looms, HMRC warns HM Revenue & Customs (HMRC) has issued a warning to people concerning the deadline for offshore disclosures. The organisation, which was formed five years ago after the merger of Inland Revenue and HM Customs and Excise Departments, noted that the last chance to do this is March 12th. Individuals have until this date to make their disclosures online and to pay all tax, duties, interest and penalties owed in full. Anyone who misses the deadline will be subject to a full tax investigation and possible penalties. HMRC's permanent secretary for tax Dave Hartnett said: "Taxpayers with offshore investments who have notified us of their intention to disclose have done the right thing, saving themselves 90 per cent of the potential penalties for failing to disclose." Now, they need to follow the process through and make their disclosure online, as well as paying in full all the taxes they owe, he added. Related Articles: 11/5/2012 - Queen's Speech legal reforms welcomed 4/5/2012 - Create Lasting Power of Attorney before it's too late 2/5/2012 - Support for will writing regulation grows 25/4/2012 - Inheritance tax planning could net �450m a year in savings 17/4/2012 - Further regulation to encourage family mediation: justice minster More Individual Legal Services News