The UK Revenue and Customs today announced details of a new offshore disclosure opportunity that will allow people with tax irregularities to disclose investments before March 2010, to incur a lighter penalty than if they fail to come forward.

The new offshore disclosure period begins on 1 September and ends on March 12th, next year. It will be available to anyone with tax anomalies associated with offshore bank accounts or investments, according to a press release on the Revenue's website.