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Report Hints At HMRC Crackdown On Offshore Credit Cards

by Robin Pilgrim, LawAndTax-News.com, London

22 June 2005

According to a Sunday Times report, HM Revenue and Customs has called on UK credit card providers to provide it with the credit and debit card details of around 30,000 people in the country thought to be using undeclared offshore accounts to evade tax.

However, the newspaper revealed that the tax department had refused to confirm the report, explaining that:

"It is known that there are a variety of ways in which people try to hide money offshore. We will continue to ensure that everyone who is liable pays the correct tax, and hiding money offshore is not acceptable. We cannot comment on which areas we are targeting, because that would warn off the people we are trying to identify."

In addition, banks contacted by the Sunday Times reportedly denied that such an approach had taken place, although they stressed that they would provide such information if requested to by HMRC via a 'production order'.

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