Alan Pink gives some pointers towards how to save clients from the consequences of their neglect.
From time to time, clients who ‘forget’, either literally or figuratively, to disclose their full taxable income or gains are given a form of HMRC ‘amnesty’.
Usually, in cases such as the recent Liechtenstein disclosure facility, this is not exactly a complete amnesty, but merely an opportunity to put HMRC wise to your undisclosed income and gains without incurring crushing penalties. Generally speaking, in this sort of situation, HMRC still wants both their tax and the interest on the tax.
In the absence of any special disclosure facility such as this (and the Liechtenstein disclosure facility was odd, for example, in not requiring there to be any connection with the state of Liechtenstein), how does a taxpayer
