Offshore: The Taxman Cometh
HM Revenue & Customs focuses on offshore accounts, changes in self-assessment requirements - and potential intervention by the European Union - could lead to the system being overwhelmed. Richard Jordan reports
When I was younger and fitter I used to play a bit of rugby union. I played in the backs and when the ball came out to us, we had one job to do, and that was to cross the ‘gain line’. This would ensure that the pack was moving forwards, remained on the front foot and retained the advantage. In the game that is HM Revenue & Customs (HMRC) versus the offshore industry there have been a number of developments in recent years and it is now HMRC which is undoubtedly in the ascendancy.
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