HMRC lacks staff to investigate over 5.7 million offshore tip-offs

Pedro Gonçalves
clock
HMRC lacks staff to investigate over 5.7 million offshore tip-offs

The HMRC does not have the staff to investigate all the offshore tip-offs it gets, after being swamped with a staggering 5.7 million pieces of information about overseas bank accounts held by three million British citizens. The information is coming from 100 countries under common reporting standards (CRS) agreed by the international Organisation for Economic Co-operation and Development. The standards are designed to stop tax evasion, or avoidance, by making governments aware of overseas ...

To continue reading this article...

Join International Investment

Join International Investment today

Unlock members-only benefits:

  • Unlimited access to real-time news, industry insights, video features and market intelligence
  • Stay ahead of the curve with spotlights on international financial centres, regional trends international advice and global industry leaders
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Hear the latest cross jurisdictional developments in wealth planning, tax, regulation, investing, retirement and protection
  • Members-only access to the Editor’s weekly news roundup newsletter
  • Members-only access to analysis via our exclusive industry polls
  • Be the first to hear about our events and awards programmes

Join now

 

Already a International Investment member?

Login