The UK Prime Minister has indicated that Britain could opt for no deal at the end of its exit negotiations with the EU on the basis that “no deal is better than a bad deal”. In such circumstances, the UK would have to fall back on WTO rules, which would involve tariffs. It would also lose free market access to countries with which the EU currently has trade deals.
Reviewing And Correcting Your Tax Returns
You may receive a letter from Revenue headed with Reviewing and Correcting your Tax Returns,which we have enclosed below. Revenue are in the process of writing to all tax payers who have filed a 2015 tax return to bring a change in the code of practice to their attention.
From 1 May 2017, they will restrict the benefits of a Qualifying Disclosure in relation to any “off shore” assets. Full details of this change are available on the Revenue Website. Just because you received this letter does not necessarily mean the Revenue think you have any “off shore” assets or other issues.
If you have previously undeclared assets abroad or if you have any queries about this letter, please contact us immediately.
Ryan & Crowley.