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HMRC internal manual

Compliance Handbook

Offshore matters: failure to notify penalties: definition of an offshore transfer

A failure to notify involves an offshore transfer if

  • it does not involve an offshore matter
  • it is deliberate (whether concealed or not) and results in potential lost revenue
  • the tax at stake is income tax or capital gains tax, and
  • the applicable condition of Para 6AA is satisfied.

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

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

FA2008 Sch 41 Para 6A

FA2008 Sch 41 Para 6AA
FA2015 Sch20 Para 12