The Penalties Relating to Offshore Matters and Offshore Transfers (Additional Information) Regulations 2017 (S.I. 2017/345) were made on 9 March 2017 and that stipulate the additional information that is required to be furnished when requesting for a reduction of penalties for tax inaccuracies or failures involving offshore matters or offshore transfers.
The Regulations will come into force on 1 April 2017.
Related Posts
The UK Treasury has opened a public consultation on introducing an electric vehicle excise duty (eVED), as announced in the Autumn 2025 Budget. Autumn Budget 2025 announces the introduction of eVED for electric and plug-in hybrid electric cars,
Read More The UK tax authority, His Majesty's Revenue and Customs (HMRC) has updated its International Manual, providing revised guidance on key taxation areas affecting multinational companies. The updates, published on 16 January 2026, include the
Read More Scotland’s Cabinet Secretary for Finance and Local Government presented the 2026-27 State Budget to the parliament on 13 January 2026. The Budget’s key proposals include higher personal income tax brackets and the introduction of new levies,
Read More HM Revenue & Customs (HMRC) has issued updated guidance for the accountancy sector on compliance with the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017. The guidance applies to all
Read More
A new income and capital tax treaty between Romania and the UK, signed on 13 November 2024, entered into force on 22 December 2025, replacing the 1975 treaty. The agreement covers Romanian income and profit taxes, as well as UK income tax,
Read More UK’s HM Revenue & Customs (HMRC) has announced that interest rates for late tax payments and repayments in the UK will be reduced, following the Bank of England’s cut to the base rate. The rates, which are set in legislation and linked
Read More
