Firms based in the Channel Islands may find themselves the target of a renewed Inland Revenue campaign to crack down on tax avoidance, according to reports.
It is believed that the Revenue’s Financial Institutions Project Group is to be given the power to use UK banks and finance firms to gain access to information about funds held offshore.
As a result, accounting firm PricewaterhouseCoopers is reportedly advising its clients to “consider carefully” requests for customer information from the UK on the grounds that client confidentiality may be breached – albeit inadvertently.
It is said that other sources of information, such as suspense accounts or banker's drafts passed between institutions, will also be investigated by the tax department.
.
Network Tweets
Network BlogsContent
provided by
|
Archive | Resources | Partners | Site Map | Links | Newsletter Archive | Contact | RSS Feeds | About | Syndication | Advertising & Marketing | Recruitment | Terms & Conditions | Privacy & Cookies
Copyright © 2012 - All Rights Reserved - Tax-News.com
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment