If you are a UK resident for tax purposes, you should declare and pay tax on your worldwide income. As you will be aware by now, many banks have recently provided H M Revenue and Customs with details of all clients who hold offshore accounts so that these names can be cross matched to their database and so that they can identify anyone who has not been declaring this income correctly.

HM Revenue and Customs have given those holding such offshore accounts until the 22nd June to come forward voluntarily and declare any money or assets such as rental properties that have been held offshore and not declared in the UK .  Once they have notified HM Revenue and Customs of the intention to disclose, they will be required to bring their affairs up to date, paying by November any undeclared tax that might be due, a penalty of 10% of the unpaid tax and backdated interest.

If you are going to use the disclosure facility provided, appropriate advice should be taken first to ensure that your affairs are declared correctly as although the facility seems to be being marketed as an amnesty, no guarantees have been given by HM Revenue and Customs that further action will not be taken as a result of the information provided.

HM Revenue and Customs have announced that they will actively pursue those with offshore bank accounts and undeclared tax liabilities that do not voluntarily disclose this information.  You could therefore find yourself subject to a full enquiry, you could be liable to pay the full amount of tax plus penalties of up to 100% of this amount and you could possibly leave yourself open to prosecution proceedings if you do not use the facility now being provided. 

If you think this may affect you in some way, it is important that you take action immediately.  For further information or advice please speak to your client manager; further details and to start proceedings can be found online https://disclosures.hmrc.gov.uk/oaics/

The countdown is now on until England becomes smoke free; so have you taken steps to ensure that your premises and company vehicles meet the new legal requirements that come into force on 1st July 2007?

In your premises you are required by law to display A5 signs with the international no-smoking symbol and words at each entrance to smoke free premises.

Company vehicles must also display the international no-smoking symbol which must be at least 70mm in diameter – these must be displayed in each compartment in which people can be carried.  

For further information or to find out how to get signs for your workplace and vehicles if you have not got them already go to http://www.smokefreeengland.co.uk

As you know there are 4 members of A4G taking part this Sunday in the race for life; thanks to those of you who have already sponsored us. For those of you who haven't there is still time; it’s for great cause - Cancer Research, so please dig deep.

If you would like show your support and sponsor team A4G in their race for life please email Cheryl@a4gsolutions.co.uk or alternatively you can sponsor online using the following link:

http://www.raceforlifesponsorme.org/emmafinlay26