With the 30 April 2017 deadline looming and following queries raised by this Institute and others at Tax Administration Liaison Committee (TALC), Revenue have clarified that self-assessed individuals who do not have any tax liability in relation to an offshore asset or offshore bank account need not make a disclosure, despite receiving correspondence from them in recent weeks.

Similarly, where details of an offshore bank account or asset were not declared by the taxpayer, Revenue have clarified that a disclosure is only required where there is a tax liability arising. FAQ questions 2.3 and 2.4 provide more details.