My client worked for a Swiss bank for several years and therefore has Swiss shares on which he has received dividends etc etc.
To the best of my knowledge, all has been reported on his returns over the years and he assures me he has no other secret accounts.
He has had a letter from HMRC asking him to sign a declaration that everything has been declared as they have "received details of his beneficial interest in Swiss assets or investments".
Is this a standard letter that everyone with Swiss income is getting, or should I be concerned that something may have been missed and he is getting special treatment from HMRC? Is it usual for HMRC to write en masse to lots of taxpayers demanding further assurances? I have not seen this before....
Replies (4)
Please login or register to join the discussion.
standard letter
I also have a client with Swiss investments that have been declared every year. They also received the same letter & assure me that all Swiss income has been declared.
If they are only asking ...
... and not demanding under any specified legislation, just don't oblige.
If they have got information on undisclosed income, they will start an enquiry into your client and if he swears blind in advance that he has no undisclosed Swiss income, they will increase the penalty to the "deliberate and concealed" level.