Taxman chats up 600 offshore bank account holders


The taxman has written to 600 offshore bank account holders to obtain more information about the process of depositing funds outside the UK.

As part of the 2007 Offshore Disclosure Facility Tax Amnesty, HMRC got details from 5 major UK banks of their UK resident offshore bank account holders.  HM Revenue & Customs have now asked 600 individuals, who came forward voluntarily in the ODF, to have phone conversations with their investigators. The taxman’s not aiming to investigate the individuals but to get information to further the crackdown on offshore tax evasion.

The letter says:  “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.

Taking part is wholly voluntary and the taxman is relying on people’s civic responsibility.  This is yet further evidence of HMRC’s determination to stamp out offshore tax evasion.

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