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Tax evaders with offshore accounts targeted
Aug 13 2008 by Tony McDonough, Liverpool Daily Post
OFFICIALS at HM Revenue & Customs have announced phase two of their campaign against tax evaders using offshore bank accounts.
It is inviting those individuals and businesses with “secret savings” in foreign countries to come forward now or face tough penalties later.
This is ahead of legal moves by the Revenue to force 117 UK and foreign institutions to disclose details of offshore accounts.
Murray McLean, at Bootle-based Chartered Accountants SB&P, said:
“Since the HMRC won new power to access the details of UK residents, they have instigated an aggressive campaign. I recommend those who have undisclosed offshore bank accounts to come forward to avoid facing penalties and even jail.”
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