Taxes Management Act 1970 section 106B

Offence of failing to give notice of being chargeable to tax

Section 106B creates a criminal offence for failing to notify HMRC of chargeability to income tax or capital gains tax where the tax relates to offshore income, assets or activities above a threshold amount.

• A person who fails to notify HMRC of their chargeability to income tax or capital gains tax by the end of the notification period commits an offence where the tax relates to offshore income, assets or activities
• The offence only applies where the total income tax and capital gains tax chargeable on or by reference to offshore income, assets or activities exceeds the threshold amount for the year
• It is a defence if the person can prove they had a reasonable excuse for failing to give the required notice
• The notification period is the same as that defined in section 7 of the Taxes Management Act 1970, which sets out the general obligation to notify chargeability