FinancialAdvice.co.uk Logo

Qualified advisers answering your
Financial Questions
call 0800 092 1245

UK authorities target Swiss account holders

HM Revenue and Customs has begun writing to taxpayers in the UK with bank accounts in Switzerland after receipt of a list of high net worth individuals with accounts at the Swiss division of HSBC. It is believed that the list was originally stolen by an employee of HSBC and passed to the French authorities who have subsequently forwarded a copy to the UK authorities.

While there is no indication or insinuation that HSBC has in any way acted inappropriately it is the very existence of Swiss bank accounts which has caught the eye of HM Revenue and Customs. It is believed that tax evasion and tax avoidance costs the UK government in excess of £10 billion a year and the authorities are very keen to close any potential loopholes.

It is believed that the very fact that the government is aware of Swiss bank accounts in the name of UK taxpayers will be enough to "put pressure" on those who may well be inadvertently shielding some of their assets from the UK authorities. Slowly but surely the UK government, along with other major governments around the world, is beginning to open up various tax havens around the globe.

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:



Latest News

Blogs

Helpful new tax year facts that could affect you and your money


Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.


Read more

Useful Links

Popular Searches

Please Enter More Details

 
Enter More Details
Continue