HMRC scrutinising 3 million offshore accounts held by UK taxpayers

Pedro Gonçalves
clock • 1 min read

Overseas authorities have shared with HMRC the tax secrets of over 3 million UK taxpayers holding offshore accounts across 100 countries. The information was delivered in the past two years and is undergoing analysis by HMRC staff. HM Revenue and Customs is currently comparing the figures with those reported on tax return filings to detect possible tax avoidance cases. The information as been delivered to HMRC under an international data swapping agreement called the Common Reporting Standard. CRS is a network of global tax authorities in more than 100 countries working together to ta...

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