RSS feedsHMRC's tax 'amnesty' is wider-ranging than previously believed, with banks providing the taxman details of accounts held by offshore companies and trusts with a connection to UK individuals, warns PKF.
PKF tax investigations partner John Cassidy said the firm had come across instances of banks supplying account details for offshore companies and trusts, which is a wider provision of information than expected, and individuals will be liable for penalties if tax evasion can be proved.
'It has quickly become apparent that the banks' provision of in formation is much wider than most people expected; bank letters we have seen clearly show that they have supplied details of company bank accounts,' said Cassidy.
'Anyone who thinks their funds are still secret because they used an offshore company or trust might be in for a nasty surprise.'
