News
HMRC now investigating offshore accounts
Posted on: 01 February 2010
HMRC is now contacting holders of offshore accounts, using information obtained from banks and other institutions, following recent successful tribunal applications.
The extent to which HMRC intends to pursue its enquiries is illustrated by the fact that non-domiciled (but UK resident) account holders are amongst those now being contacted, in order to check whether any deposits relate to undeclared UK source income or gains.
In some cases the initial approach by HMRC is not a formal enquiry, but whether or not that is the case, taxpayers and advisers need to take great care when deciding how to respond.
Please contact Stephen Besford to discuss any HMRC enquiries.
