TaxCorporate TaxTaxman writing to 600 offshore account holders

Taxman writing to 600 offshore account holders

Taxman contacts 600 people who came forward in the Offshore Disclosure Facility to learn how the accounts are marketed by banks and the attitudes of high-net worth individuals

The taxman is writing to 600 offshore account holders to unearth more
information about the process of depositing funds outside the UK.

As part of the 2007 Offshore Disclosure Facility, HMRC contacted 5 major UK
banks for details of their offshore account holders.

In a letter seen by Accountancy Age, HM Revenue & Customs has asked the
individuals, who came forward voluntarily in the ODF, to hold phone
conversations with the department.

“To help our understanding we would like to ask you a few short questions
about how you opened, operated and maintained your accounts…… “This is not
an enquiry into your tax affairs.”

The taxman stressed it would not ask for financial information and details
such as account numbers or balances would not be discussed.

“Any information given to us during this call will be treated in confidence
and will not be used for the purpose of reviewing your own personal affairs,”
the taxman added.

Related Articles

Watch out when winding up

Corporate Tax Watch out when winding up

1m Emma Rawson, ATT Technical Officer
How might Brexit affect UK tax policy?

Brexit & Economy How might Brexit affect UK tax policy?

1m Santhie Goundar
Corporation tax losses – your newly flexible friends

Corporate Tax Corporation tax losses – your newly flexible friends

3m Emma Rawson, ATT Technical Officer
HMRC large business tax enquiry duration rises to 3 years

Corporate Tax HMRC large business tax enquiry duration rises to 3 years

4m Emma Smith, Managing Editor
SMEs paying higher rate of corporation tax than big businesses

Corporate Tax SMEs paying higher rate of corporation tax than big businesses

4m Alia Shoaib, Reporter
Big names, little tax: Airbnb, Facebook, Kellogg’s, eBay

Corporate Tax Big names, little tax: Airbnb, Facebook, Kellogg’s, eBay

7m Alia Shoaib, Reporter
New trading allowance: simplicity, but not as we know it

Administration New trading allowance: simplicity, but not as we know it

7m Emma Rawson, ATT Technical Officer
EU divided over radical tax reforms targeting tech giants

Corporate Tax EU divided over radical tax reforms targeting tech giants

8m Alia Shoaib, Reporter