It is basically an amnesty to encourage those who might be worried about the implications of not having declared previous income to deal with it now before the situation gets worse.
As with most tax matters, the expectation is that the outcome should be far more favourable to the individual who has voluntarily approached HMRC rather one who has been tracked down by them. Unfortunately this is a temporary amnesty and the tax returns deadline for submissions is approaching – 15th October 2013.
If you are in this situation and would like to take the opportunity to clear the slate, it is very easy. All you have to do is complete the form on line to join the campaign or get us to complete it for you, and then provide us with all the information required to complete your tax returns. Just give us a call on 0131 556 8595.