Wendy Walton and Gemma Davies review recent developments in the private client arena, which include the list of HSBC Jersey account details passed to HMRC and the Upper Tribunal decision in Buzzoni on gifts with reservation of benefit
HSBC Jersey account details passed to HMRCHMRC has confirmed that a whistleblower has handed it a list containing the names UK addresses account numbers and account balances of 4 388 people with HSBC Jersey accounts. It has also been reported that the whistle blower holds further information on account holders with overseas addresses.
Some of these bank accounts may not need to be declared in the UK where for example a taxpayer is claiming the remittance basis. However...
