Thousands of taxpayers have received so-called “nudge letters” from HMRC urging them to review their foreign assets and bank accounts, warning that false declarations could result in criminal prosecutions.
Accountants have criticised these measures but Dawn Register, a tax dispute resolution partner at BDO, explained it is part of HMRC’s aim to “raise additional funds through combatting perceived tax avoidance.”
Doing this, James Hender, head of private wealth at Saffery Champness, explained “will often mean that a high-volume, scatter-gun approach is used.”
Despite the unsettling nature of the l...