The Isle of Man Disclosure Facility to launch on 6 April 2013

The Isle of Man Disclosure Facility, for individuals with Isle of Man accounts, runs from 6 April 2013 until 30 September 2016. Individual beneficiaries of accounts can make a disclosure to HMRC of any previously undeclared UK tax liability back to 6 April 1999 on advantageous terms. However, there are a set of conditions that must be met. Penalties are fixed, based on the country through which the income originally arose.

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