There is just one week left for people looking to use the New Disclosure Opportunity (NDO) on offshore accounts.
It means that in order to put their affairs in order at a 10% penalty rate, individuals need to settle any outstanding tax, duty and interest with HM Revenue & Customs (HMRC).
Anyone who is found with undisclosed balances after the 12 March could be liable to face a 100% fine.
Dave Hartnett, HMRC's permanent secretary for tax, noted that those who have informed the authorities will save themselves 90% by highlighting the inaccuracies in their payments.
All they need to do now is settle their debts in full and they will escape any further punishment.
It was recently announced that the organisation had helped businesses reschedule over £5 billion in tax, after the Business Payment Support Service arranged for institutions to meet their outgoings within a more realistic timetable.
Financial News
One week left to disclose offshore accounts
The FSA does not regulate tax advice. Tax rules are subject to change.
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