Crosswords1 min ago
If a sum of money is deposited in an offshore (Isle of Man) account by a UK taxpayer and interest on it is paid gross, does the bank automatically inform the British Inland Revenue of the fact and what the amount paid is?
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Thanks, and in answer to the first post, I'm not planning to defraud anybody. There is a lot of bad feelings between Germany and Switzerland at the moment regarding German nationals holding Swiss bank accounts, I can see the reason for this, but the question arises, What is the advantage of UK taxpayers holding offshore accounts if it is so accessable to the Inland Revenue, and why was G.Brown so het up about them recently, claiming huge sums of tax was going unpaid?