HMRC and Offshore Assets

June 2006

There has been a lot of recent publicity about HMRC formally requesting financial institutions, including Barclays, to deliver up details relating to offshore bank accounts. This is clearly a major offensive by HMRC, who seem to feel that many UK residents ‘hide’ monies offshore.

HMRC have published some guidance about how additional income should be reported to them.

Internet Link:

HMRC guidance

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