And Big Four firm KPMG, has advised those residents who do possess such accounts to take steps to ensure they are fully compliant with UK tax laws.
The Revenue probes come on the back of investigations by the Irish authorities which have so far seen more than 70,000 people come under scrutiny.
The Revenue has obtained details of bank accounts held in Ireland by UK-based individuals, monies transferred into Trust accounts with the Bank of Ireland in Jersey, and non-resident accounts held through other Irish and UK banks.
‘We cannot emphasise enough the seriousness of this issue,’ said Derek Kelly of the KPMG tax investigation department, saying advice should be sought immediately.
HMRC has won its tenth successive case against tax avoidance schemes promoted by NT Advisors. The Court of Appeal has ruled that NT ... read more
HMRC is continuing to ramp up the number of raids on premises it carries out as part of criminal investigations, searching 761 properties in the last year
Five million taxpayers are ow using digital personal tax accounts (PTA) as part of the making tax digital strategy, HMRC said
Since the release of HMRC’s plans for digital tax reforms, many have agreed with the call for a delay