HMRC has won another legal battle meaning that the banks HSBC, HBOS, Bank of Scotland and Lloyds TSB will have to hand over details of clients’ offshore bank accounts. The word is that the Taxman is considering offering an amnesty for tax evaders but will only give them 6 weeks to come clean and a further four months to make a full disclosure and pay the tax owing.
We understand that, under the proposed amnesty, penalties will be capped at 10% of the legal maximum except in the most serious of cases.
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Because these so called Offshore banks are also onshore, this reporting their customers has come about. I have found a very interesting site on general offshore information http://www.offshorebusinessportal.com and another about a really private banking solution http://www.firstglobaltreasury.com I hope this is useful to other bloggers.
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