CH123425 - Offshore matters: requirement to correct certain offshore tax non-compliance: failure to correct - publishing details of defaulters

A person who is found liable to a penalty for failing to correct their offshore tax non-compliance during the requirement to correct period may have their details published by HMRC.

Publishing details of defaulters

Conditions for publishing details

HMRC may publish information about a person if

  • they had offshore tax non-compliance at the end of 2016-17 which they were aware of and failed to correct within the requirement to correct period (6 April 2017 to 30 September 2018), and
  • they have incurred one or more relevant penalty under Para 1 to which they have been assessed or is the subject of a contract settlement, and
  • the offshore potential lost revenue (PLR) in relation to the penalty, or the aggregate of the offshore potential lost revenue in relation to each of the penalties, exceeds £25,000.

HMRC can also publish details if the person has incurred five or more relevant penalties regardless of the total PLR.

The information that may be published is

  • the person바카라 사이트™s name (including any trading name, previous name or pseudonym),
  • the person바카라 사이트™s address (or registered office),
  • the nature of any business carried on by the person,
  • the amount of the penalty or penalties,
  • the offshore potential lost revenue in relation to the penalty or the aggregate of the offshore potential lost revenue in relation to each of the penalties,
  • the periods or times to which the uncorrected relevant offshore tax non-compliance relates,
  • any other information that the Commissioners consider it appropriate to publish in order to make clear the person바카라 사이트™s identity.

The information may be published in any manner that the Commissioners consider appropriate. However before publishing any information the Commissioners must

  • inform the person that they are considering doing so, and
  • allow the person the opportunity to make representations about whether it should be published.

Time limits

There are certain publication time limits which are listed below.

  • No information may be published before the penalty becomes final. If there is more than one penalty involved, this is the latest day on which any of the penalties become final.
  • No information may be published for the first time, more than one year after the penalty becomes final.
  • We can only continue to publish these details for a maximum of 12 months from the first publication date.

The information will only be published once the penalties are final. A penalty becomes final on either

  • the day after the end of the appeal period if the person doesn바카라 사이트™t make an appeal,
  • the date when the appeal is finally determined,
  • the date when a contract settlement is made.

Exceptions

The information may not be published if the amount of the penalty is reduced under paragraph 16 to the minimum permitted amount (being 100% of the offshore PLR), or is reduced to nil or stayed as a consequence of special circumstances.

Section 67 and Schedule 18 Finance Act (No 2) 2017