Published recently, “10 things about offshore assets and income” came just before the end of the current disclosure opportunities offered by HMRC. As announced in the March 2015 Budget, the existing disclosure opportunities, including the Liechtenstein Disclosure Facility and Crown Dependency Disclosure Facilities, ended early on 31 December 2015.

HMRC is warning that these are to be replaced by a new tougher, last chance facility from 2016. Those who continue to evade will face new tougher financial and criminal sanctions.

And, from 1 January 2016, HMRC will start to receive data on UK customers with offshore accounts and trusts from Crown Dependencies and Overseas Territories, with information from another 90 other jurisdictions due to commence in 2017.

Disclosure and notification forms for the let property campaign have also been updated. Updated guidance on the Jersey, Isle of Man and Guernsey disclosure facilities is also available.