Breaking news from the BBC Paper tax returns to be replaced by digital by 2020

Read more...

Chancellor George Osborne delivers his last budget before the General Election

Read more...

Tax planning for 5 April 2015

Read more...

HMRC gets £342m in Swiss-UK tax deal

Read more...

Compliance Checks to be Trialled in Southampton. 20/05/2011

Read more...

Reclaiming VAT stumps small traders

Read more...


Contact Us

News Items

Tax Tips

Brilliant with numbers
Great with people
Clear and precise with advice
Timely and cost effective
In touch with issues that face our clients
Mindful of our client’s long term strategic goals


Helping Your Business is Our Business


Call us now on 023 8083 6900 ABDS Home

News - 9 February 2015

HMRC issue a statement on offshore tax

HMRC have issued a statement saying that they have systematically worked through all the Lagarde data. As a result tax, interest and penalties have now been paid by those who hid their assets in Switzerland to get out of paying tax. The decision to prosecute is made by the Crown Prosecution Service based on the facts.

Stuart Coleman, Manager of the Tax Department of ABDS comments:
“The “Lagarde List”, is a data set from more than 100,000 clients of HSBC’s Swiss private bank and was obtained by the French government in 2010 following a raid on the home of ex-HSBC employee Hervé Falciani.”

The Lagarde list was used by HMRC for the express purpose for which it was provided – to assess, collect, enforce and prosecute tax offences. Using this they have brought in more than £135 million as a result of this work and the government has increased the maximum penalty for hiding money in tax havens to 200% of the tax evaded.

Over 90 countries have committed to new international Common Reporting Standards, further shutting down the options for tax cheats who pursue this increasingly high risk practice.

If you need any help and advice with your Tax returns and declarations, contact Lavinia Newman, Stuart Coleman or Liz Kennett to discuss how ABDS can help in all your financial and business planning.

ABDS Chartered Certified Accountants of Southampton.
Tel: 023 8083 6900  E-mail: abds@netaccountants.net

Brilliant with numbers   
Great with people  
Clear and precise with advice
Timely and cost effective 
In touch with issues that face our clients and
mindful of their long term strategic goals

Helping Your Business is Our Business

« Back to News