Advice for UK Taxpayers Regarding Returning Their Certificates of Tax Position

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The Chartered Institute of Taxation have given individuals in the UK who received letters from HMRC’s Offshore Risk & Intelligence Service, who were requested to submit a declaration of their overseas tax compliance position within one month, advice. The institute says taxpayers should very carefully consider whether to sign and return the certificate, regardless of whether they have anomalies to disclose or not, says

The HMRC has accepted that UK taxpayers do not have a legal obligation to return the ‘certificate of tax position’, which exposes them to criminal liability if they make an incorrect declaration. The Institute of Taxation suggests that in light of this, it may be preferable to respond in writing to the HMRC, which enables an explanation to be included and could pre-empt and aid further questions by HMRC officers.