Pressure Rises for UK Taxpayers to Correct Overseas Affairs
UK taxpayers who are required to report their undeclared overseas income tax, capital gains tax or inheritance tax have until the end of the month (September 30th 2018) to notify the HMRC in order for them to make the necessary corrections by the end of the year (December 29th) or risk facing penalties. The responsibility relates to tax obligations that were submitted in time for valuation by April 2017; generally, those arising in 2015-2016 and earlier financial years.
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