Offshore investors warned of tighter HMRC clampdown

Heightened efforts by the taxman to access information about offshore holdings will put investors un...

Heightened efforts by the taxman to access information about offshore holdings will put investors under increased pressure, according to Grant Thornton. The business consultant and financial advice firm said increased cooperation between global tax authorities and a more aggressive drive by HMRC to clamp down on tax evasion is likely to cause concern for offshore account holders. The consultancy said other measures included a treaty between Germany and Switzerland to enable a back-door route into Swiss bank accounts and last year’s offshore amnesty, which netted the Treasury £400m, sayi...