Tax Amnesty discussion

Qamy

>>... Time to start think... Time to start thinking of a "Better" explanation, methinks<<

Fair-enough Benjamin. What would make valid explanations in your opinion?.

every_little_helps_3

I have a house in spain which I let out and have made a disclosure to HMRC I am working out my figs.

I phoned PricewaterhouseCoopers (0800 328 8215) they said I should add up all allowable expences divide by 52 (weeks) and multiply by weeks let.
My accountant says add up all allowable expences divide by 52 and multiply by the weeks we have spent in the property.

Using PwC figs. for one year I get a loss of over £700. Using my accountants figs. for the same year I get a profit of over £1,000

Who is correct? Also can I offset losses from one year against profits in another year?

[Deleted User]

Offshore Disclosures
You seem to have your pulse on this matter so perhaps you can advise/help me.
My father is 75 retirted and won't see 76 if he worries any more about this. I believe that with all his income from pensions and other investments as well as his offshore bond he still will not go over his taxable allowance for each year since his retirement and the bond was taken out, therefore have no tax liability.
Am I correct in my thinking that he would not be lible for any penalties arrising from his income from his Channel Island Bond investment.
He does not have a lot of income as you will gather, and it is worrying him, as to whether he will be liable to penalties for non declaration.

alan99_2

Hi Bald-and-B


I came across an article in todays Telegraph Money, the article doesnt appear to be online. They mention 2 contacts who help older people with tax issues. It didnt mention about the Offshore disclosure but it may be worth while contacting them, they are free.

'pensioners with income under 15k can contact Taxhelp for older people (TOP) 0845 601 3321 , www.taxvol.org.uk

AND

LITRG , www.litrg.org.uk from chartered institute of taxation give a voice to the unrepresented in the tax system'

HTH

blowstar

I recently read the forms and guidance notes for the Offshore Declaration and it doesn't seem much more onerous than a tax return, plus you are not asked to bundle a lot of supporting information like receipts for expenses you offset against your offshore-held income or assets.

Will the Revenue discriminate against those who do not submit through firms of accountants? Does anyone have a good experience of an accountancy firm making this process easier for them as an individual ?

Johnny