While the 2019 Spring Statement was a fairly benign event for private clients, HMRC published a policy paper which is worthy of further commentary and of particular interest to non-UK domiciled clients - “No Safe Havens 2019”.

This paper outlines HMRC’s approach to how they will ensure offshore tax compliance for UK resident taxpayers in order to achieve their objective “to maximise revenues and bear down on avoidance and evasion”.

The paper goes on to explain what we already know which is that the UK now shares information with over 100 jurisdictions, having committed to the automatic exchange of financial ac...