HMRC chases large-scale tax evaders

HM Revenue & Customs (HMRC) has sent letters to hundreds of wealthy tax payers over possible large-scale tax evasion, it has been reported.

Most of the letters are in connection with offshore bank accounts held at HSBC in Switzerland after HMRC acquired a list of well-off people who hold accounts at the bank.

The letters, known as Code of Practice 9, warn the recipients that any suspicions of suspected serious tax fraud will be probed by HRMC officials.

An HMRC spokesman said: "The days of hiding money offshore to evade tax are now over."

It has been reported that HMRC was given the list of wealthy account holders by French prosecutors and it is understood the list was stolen by a former HSBC employee in Switzerland. A spokesman for the bank said: "We do not condone tax evasion" but he would not comment on the incident concerned.

Disclaimer

All content is for informational purposes only and is the opinion of the author. Nothing on this website should be interpreted as "advice". Money Dashboard Ltd make no representations as to the accuracy, completeness, suitability or validity of any information on this site and will not be liable for any errors or omissions or any damages arising from its display or use.

Get started today with Money Dashboard

Money Dashboard will help you discover where your money is going, start saving and plan for the future - for free

Related articles

Download app