HMRC’s New Disclosure Opportunity (NDO)

The NDO is available to all UK taxpayers who decide to make a voluntary disclosure of direct or indirect tax liabilities. The irregularities do not have to necessarily involve an offshore bank account.

Under the NDO HMRC allow people with unpaid taxes to settle their tax liabilities at a discounted penalty rate. Where the tax does not exceed £1,000 there are no penalties.

The NDO registration window opens on 1 September and closes on 30 November whilst the longest deadline date for full disclosure and settlement is 12 March 2010.

NDO covers both onshore and offshore tax problems, we are more than willing to help anyone who would like to register and make a disclosure under NDO.

HMRC have said the NDO is "the last opportunity of its kind”. Meanwhile, HMRC has won access to offshore accounts of 300 banks, and will use that information to monitor who makes a disclosure.

For assistance or more information call Nottingham Accountants Marshall Smalley on 0115 9565171 or visit http://www.marshallsmalley.com/