HMRC targets 6,000 Swiss accounts in tax crackdown

The Revenue is writing to HSBC in Geneva account holders to inform them they have a "window of opportunity" in which to come clean about their tax affairs. The time periods account holders have to come forward vary from one individual to the next. HMRC's new offshore co-ordination unit will then begin investigating the accounts, which could lead to penalties of up to 200% of the outstanding tax. The move comes after information received by HRMC last year under a tax treaty which said more than 6,000 individuals, companies, trusts and other bodies had accounts and investments with H...