As they can’t investigate all those reported under new rules by offshore banks, HMRC are writing to them reminding them that they might owe some tax. So of course the innocent and inadvertent offenders will panic, respond and cough up. The big fish will ignore it, shift it, take legal advice, bung some more to their favourite political party and retire to their yachts. Cynical? Moi?
“HMRC scraps plans to tax pensions after death”
A couple of other Statement Highlights (in my world, anyway). A welcome ‘nothing happened’ on the treatment of pensions on death. They were never going to be liable to IHT (too complicated with trusts and trust law) but there was talk of making them income-taxable on the recipients at whatever age you die.
