Offshore accounts' 30-day tax warning

clock

The UK government has sent 500 letters to holders of offshore bank accounts reminding them that inco...

The UK government has sent 500 letters to holders of offshore bank accounts reminding them that income from interest needs to be declared by those resident and domiciled in the country, and giving them a month to explain themselves if they are not paying tax. This may be the first result of the European Union Savings Tax Directive providing governments with information on overseas bank accounts, but HM Revenue and Customs (HMRC) refused to say where they get account details from. "We use multiple sources to obtain information," said the HMRC. The HMRC said the letters are part of its inve...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on uncategorised

Building Society-owned Newcastle Financial Advisers acquires Openwork firm

First of a number of acquisitions

Hannah Godfrey
clock 09 December 2019 • 1 min read

Bond managers fear hedges being undermined as liquidity dries up

The recent sell off in the bond market and growing liquidity issues have forced bond investors to use similar hedging techniques, undermining their effectiveness and causing concerns about how much downside protection funds really have.

Anna Fedorova
clock 03 July 2013 •

Police launch investigation into mortgage middleman fined £1m

West Midlands Police have launched a fraud investigation into a Birmingham financier over his role in sale and rent back agreements.

clock 25 June 2013 •