Advisers keep mum over rich clients
More fun stuff from our friends at HMRC.
A feasability study commissioned by the taxman entitled ‘Researching the Wealthy’ made for interesting – if not predictable – reading.
The section called ‘barriers and facilitators to participation, Gatekeepers’ contained what TS thought was the bleedin’ obvious:
‘One aspect of the role of PAs, solicitors and accountants was described as managing access to wealthy individuals…In addition agents were described as responsible for ensuring that fiancial affairs of their clients are sunject to minimal external scrutiny. As a result participants in the study felt that even where very wealthy individuals did not opt out of the research at the initial stage, recruiting them would involve persuading gatekeepers of the legitimacy and worth of the study.’
You’re a secretive bunch, eh? It should have been called: ‘Not Researching the Wealthy’.