Offshore tax dodgers are being warned they have one final chance to come clean, or face the consequences, in a YouTube video posted by HM Revenue & Customs (HMRC).

In the two-minute video, Dave Hartnett, HMRC’s Permanent Secretary for Tax, warns that anyone with undeclared offshore bank accounts who doesn’t come forward under HMRC’s New Disclosure Opportunity (NDO) will face much higher penalties and even criminal prosecution.

Dave Hartnett says:

“For some people, offshore bank accounts and tax havens typically conjure up images of exotic and far away places, well out of the reach of the taxman at home. Well, life’s just not like that any more. And here’s a blunt message from HM Revenue & Customs: times have changed. The taxman now has more powers and more information.”

And if you think you can ignore this opportunity, Mr Hartnett says “you’re burying your head in the sand”.

Issuing a reminder about the 30 November notification deadline, he makes it clears that people must do it now, “because there won’t be another chance”.