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As it's Friday afternoon:
I came across this today on the HMRC website: https://disclosures.hmrc.gov.uk/oaics/oaicsguidanceforms.pdf
It explains what to do if you "forgot" to declare your offshore bank account and so didn't pay any tax on the interest earned. There's a helpful link from the HMRC homepage.
And to ensure that you don't get into difficulty, they'll even let you off a penalty if you've been paid less than £2,500 interest if you've enough squillions to earn interest of more than £2,500 you'll pay a mere 10% penalty. How kind and considerate.
This is in stark contrast to what happens to benefit and tax credit claimants who "forget" to declare income or capital - interviews under caution, prosecutions, recovery of overpaid benefit?TC, admin penalties of 30%, etc.
Anyway, it's good to see that HMRC are capable of sensitivity and compassion when it comes to irregularities by some people.
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