HMRC have added a new example to their guidance at para. CH 53550 of the Compliance Handbook (Assessing Time Limits: Extended time limits: 12 year time limit for offshore matters and offshore transfers: Relevant overseas information).
The text of the new example reads as follows:
“Example 3 – An offshore matter where HMRC has information about non-compliance, but this does not meet the definition of “relevant overseas information” and so does not prevent the use of the 12-year extended time limit
Mr D was subject to a compliance check for the tax year 2023/24. During the enquiry Mr D informed HMRC he had received rental income from a property in France into a UK bank account. Mr D had not previously disclosed this information as he had paid tax in France. This was therefore offshore non-compliance through a failure to take reasonable care. Mr D provided HMRC all information in 2028, before the time limit that would otherwise apply for making an assessment. Mr D’s agent argued that the enquiry should only cover six years because HMRC now had the information and subsection (7) of section 36A should apply. However, the information does not constitute “relevant overseas information” as the information was not provided by an authority in a territory outside the UK (as required by the definition in subsection (8)). Therefore, even if HMRC fail to act within the time limit because the information provided does not constitute “relevant overseas information” then an assessment under s36A, using the 12-year extended time limits, is still possible.”
https://www.gov.uk/hmrc-internal-manuals/compliance-handbook/ch53550
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