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HMRC internal manual

Compliance Handbook

Offshore matters: failure to file on time penalties: definition of an offshore transfer

A failure to file involves an offshore transfer if

  • it does not involve an offshore matter
  • by failing to make the return, a person deliberately withholds the information (whether or not the withholding of the information is concealed), and the tax at stake is income tax, capital gains tax or inheritance tax, and
  • the applicable condition of Para 6AA is satisfied.

For income tax, the applicable condition is satisfied if the income, or any part of the income, to which tax is charged

  • is received in a territory outside the UK, or
  • is transferred before the relevant date to a territory outside the UK.

For capital gains tax, the applicable condition is satisfied if the proceeds or any part of the proceeds of the disposal to which tax is charged

  • are received in a territory outside the UK, or
  • are transferred before the relevant date to a territory outside the UK.

For inheritance tax, the applicable condition is satisfied if

  • the disposition that gives rise to the transfer of value by reason of which the tax becomes chargeable involves a transfer of assets, and
  • after the disposition but before the relevant date the assets, or any part of the assets are transferred to a territory outside the UK.

FA2009 Sch 55 Para 6A

FA2009 Sch 55 Para 6AA
FA2015 Sch20 Para 17