Accountants to help design new tax disclosure facility

There have been rumours that HMRC will shortly be launching Offshore Disclosure Facility (ODF) Mark II, on similar terms to the previous ODF. This plan has been widely criticised; why should disclosure second time around be on the same terms as the first?

It is now confirmed that a new ODF is forthcoming – to allow the facility of voluntary disclosure to the customers of a new tranche of financial institutions.