Warning HMRC's Swiss tax hit list has flaws

Last week, Her Majesty's Revenue and Customs (HMRC) said it has written to 6,000 people with bank accounts with HSBC in Geneva, urging them to declare their potential tax liabilities. Fiona Fernie, tax investigations partner at international tax consultancy BDO, urged account holders to come forward, and said many people with have legitimate reasons for not having declared their Swiss accounts anway. "Non-domiciliary individuals would have no reason to declare an account to HMRC, but might have been contacted by the Revenue because HSBC's list of account holders would not include thei...