HSBC Swiss account holders given 30 days to disclose

THE TAXMAN will open enquiries on any HSBC Switzerland account holder that does not come forward within 30 days of receiving a letter, it has announced.

HM Revenue & Customs yesterday announced that it would be writing to up to 6,000 account holders whose details they obtained from a disgruntled former employee of the bank. The UK residents will be given the opportunity to disclose their tax affairs.

However, HMRC confirmed that those individuals who fail to come forward within 30 days will immediately be put under enquiry.

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