Posted by admin - May 26, 2015 8:14 am Undisclosed Income from foreign countries warning

On 30 September 2016 information will be exchanged by the following countries with the UK Revenue – Jersey, Guernsey, The Isle of Man, Anguilla, Bermuda, the British Virgin Islands, the Cayman Islands, Gibraltar, Montserrat and the Turks and Caicos Islands. The exchange will give details about bank accounts, portfolios, etc., held by UK residents in these countries, for the 2014 and 2015 calendar years. The Lichtenstein Disclosure Facility, which offers favourable disclosure terms, comes to an end on 31 December 2015. Therefore, anyone who has undisclosed income from accounts in these countries or elsewhere should consider making a disclosure before this facility ends.

Philip Cragg, CTA
Tax Manager

Philip qualified as an Associate of the Chartered Institute of Taxation in November 1986 and was admitted to associate membership in 1987. He has been a Tax Manager in McCabe Ford Williams’ Dover office since 1987. He has been in general practice with McCabe Ford Williams since 1979 and specialised in taxation from 1981.

His work encompasses all general tax planning advice and compliance covering personal, corporate, capital and indirect taxes. He sits on the Taxation Committee of the firm which advises on specific issues and monitors the quality of taxation advice within the firm.