The UK tax authority, HM Revenue and Customs (HMRC) has called for the assistance of around 600 UK citizens that availed of the Offshore Disclosure Facility to help it better understand how offshore accounts, as marketed to UK citizens, are ”˜opened, operated and maintained'. The letter is being viewed by many as a precursor to a general probe by the UK of offshore solutions providers.
HMRC's letter invites the concerned UK taxpayers to respond by way of a phone conversation to “a few short questions” about the opening of the account, how it was operated, and how the account was maintained, “to improve HMRC's understanding.” The letter to the taxpayers underscores: “This is not an enquiry into your tax affairs.”
The letter further states: “Any information given to us during this call will be treated in confidence and will not be used for the purpose of reviewing your own personal affairs," and adds that financial information such as accounts and their balances would not be under discussion.
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HMRC's letter invites the concerned UK taxpayers to respond by way of a phone conversation to “a few short questions” about the opening of the account, how it was operated, and how the account was maintained, “to improve HMRC's understanding.” The letter to the taxpayers underscores: “This is not an enquiry into your tax affairs.”
The letter further states: “Any information given to us during this call will be treated in confidence and will not be used for the purpose of reviewing your own personal affairs," and adds that financial information such as accounts and their balances would not be under discussion.
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Disclaimer: Nothing I say should be taken as tax, legal or financial advice. Anything I say is for general informational purposes only. Always seek independent professional advice.
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Disclaimer: Nothing I say should be taken as tax, legal or financial advice. Anything I say is for general informational purposes only. Always seek independent professional advice.