Updates to HMRC’s Civil Information Powers UK

[Dalartokat]

This is purely for information in case there is anyone likely to be affected or just likes to keep up to date with info.

This came on LBC radio this morning with a discussion from a Tax Lawyer in London and it seems not widely known what is going to happen and will be debated under the Finance Bill. If the HMRC want statements from your bank the Banks and Building Societies will have no choice but to abide. It was mentioned that, if they need to go way back and see something on your statement they don’t like, they could ask you to provide evidence.......


https://www.gov.uk/government/publicati ... ion-powers

[Bert]

Can only access that from U.K. bank accounts though so I suggest a good idea to move offshore !

[EnjoyingTheSun]

Can only access that from U.K. bank accounts though so I suggest a good idea to move offshore !

It’s like all the money laundering legislation. It will never catch the seriously criminal or seriously rich unless they are stupid or buy very bad advice

[Bert]

Exactly what I was getting at and of course you would know better than I been in the business so to speak

[Bert]

Sorry x

[EnjoyingTheSun]

Sorry x

Too late my lawyers are already on it!

[Bert]

Lmao as long as they aren’t from Trnc you will be in with a shout

[Thomas]

People forget if HMRC ask for information, and you wont/ cannot supple where ever those account maybe, they simply issue an amount that they think you owe, and you have to prove you don't owe it.

So hiding bank accounts off shore can work but not that simple .

If you need any help with this, please send me a message as I have been dealing with these situations for over 30 years.

Cheers

Thomas