HMRC targets offshore fund holders

HMRC are planning a bulk mailing of letters in early November 2019 targeting wealthy UK offshore fund holders as the UK taxman launches a new probe of compliance and tax transparency. The letters ask recipients to check that they have correctly declared money received from offshore collective investment funds, and include a factsheet that gives more details. Chartered tax adviser at law firm Harbottle & Lewis Gary Ashford said: "It has long been the case that significant tax issues can arise from such investments. "Given that the UK has just been through a campaign to report all of...