Hector's talking Portugese

A series of raids against major Portugese banks suspected of aiding money laundering and tax evasion has zeroed in on millions of euros suspected of being deposited offshore, much of it passing through the UK. UK tax authorities are helping the investigation, IFA firm Chiltern says, which may result in HMRC obtaining bank details regarding untaxed interest or remitted payments, access to details on undeclared income and tax avoidance or evation, or merely names of people or companies that have used Portugese banks to deposit funds. “Of course, it may also lead to investigations into indi...