Making a Disclosure
For information about making a 'qualifying disclosure' in relation to a tax or duty default and other opportunities available to regularise tax or duty defaults, see the Code of Practice for Revenue Audit and other Compliance Interventions (PDF, 2.42MB)
Disclosures of Foreign Income and Assets
As and from 1 May 2017, it will no longer be possible to obtain the benefits of a qualifying disclosure if matters included in the disclosure relate directly or indirectly to any of the following:
- an account held or situated in a country or territory other than the State
- income or gains arising from a source, or accruing, in a country or territory other than the State
- property situated in a country or territory other than the State.
In addition, where there are liabilities arising within the State as well as liabilities relating to offshore matters, a qualifying disclosure will be unavailable in respect of all of those liabilities except in limited circumstances (specified by the measure).
It will also mean that, from 1 May 2017, persons with liabilities involving "offshore matters" could be liable to higher penalty rates, the settlement could be liable for publication in the quarterly Defaulters’ List, and the person concerned could be the subject of a criminal prosecution.
A qualifying disclosure may be made at present in relation to offshore matters, subject to the general rules and requirements for making such a disclosure as set out in the Code of Practice for Revenue Audit and other Compliance Interventions, a copy of which is available above.
For further details of the changes see:
- Frequently Asked Questions about Qualifying Disclosures relating to Offshore Matters (PDF, 1.23MB)
- Frequently Asked Questions about Automatic Exchange of Information (PDF, 147KB)
- Liabilities Estimator (MS Excel, 402KB)
- Guide to Filing a Disclosure and Making a Payment on line (PDF, 988KB)
- Section 56 of the Finance Act 2016 and the accompanying Explanatory Memorandum (PDF, 208KB)
Further information may also be obtained from the Offshore Assets Group: