With the Requirement to Correct (RTC) notification deadline of 30 September 2018 now gone, taxpayers who subsequently discover inaccuracies in their UK tax affairs relating to offshore non-compliance may think there is nothing they can do.

It is true that missing the RTC notification deadline does make the position more complex, with the introduction of significant penalties for offshore non-compliance (up to 200 percent of the tax liability; 10 percent of the value of the offshore asset; as well as potential prosecution and naming and shaming). But those who discover inaccuracies, however they arose, should still come forward.