HMRC is using any means possible to get hold of information on offshore accounts
holders will be affected by a crackdown by the taxman.
com/news/2016/apr/03/panama-papers-money-hidden-offshore) the Guardian , the leaks reveal a network of more than $2 billion in money extracted from Russian banks and stored in offshore accounts
with a paper trail leading directly to some of Putin's closest associates.
The move came after the big five high street banks - Barclays, HSBC, HBOS, Royal Bank of Scotland and Lloyds TSB - were forced to hand over details of customers with offshore accounts
after HMRC won a legal battle against Barclays in May last year.
5bn in unpaid tax could be sitting in the Barclays Bank offshore accounts
alone, the details of which have already been passed to the taxman as part of a request for information.
It is expected that HMRC will ask 170 stockbrokers and wealth management firms to co-operate by disclosing offshore account
It's also true that Barclays is not the biggest player in offshore accounts
, and other high street banks with a much bigger presence have yet to be targeted.
Tax experts say this week's announcement that Barclays must disclose details of offshore accounts
held by British residents could prove a headache to people with overseas interests.
Customs and Revenue won a lengthy court battle with banks to force them to disclose the holders of offshore accounts
- some 400,000 were turned up.
THE UK's biggest earners often move abroad or keep money in offshore accounts
, avoiding paying tax.
MIDLANDERS with offshore accounts
have been warned that they could be targeted by the taxman following a legal ruling.
Those with offshore accounts
have been asked to register details by today and provide full details in September.
The wider abuse of offshore accounts
brought in more than EUR807million.