Nationwide and HMRC are having a few interesting exchanges over HMRC's request to Nationwide to disclose details of its customers with offshore accounts.
The Times quotes Nationwide:
"Nationwide has been in active discussion with HMRC on this matter.
However, we do not believe our records enable us to identify those customers who live in the UK and have an offshore account.
We have already informed HMRC of this, but inquiries are ongoing".
Doubtless the same discussions are ongoing with other building societies.
I wonder if the extra tax revenue earned will cover the admin costs incurred wrt this fishing trip by both HMRC and the building societies?
Tax does have to be taxing.
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What I found interesting was how HMRC paid money to a criminal gang for information that they had stolen regarding off shore account holders......Now correct me if I'm wrong but, isn't receiving stolen property still a crime in this country and is it not the case that, without people willing to buy stolen property, there would be little point in stealing the items in the first place? Is it now official government policy to reward fellons, as was the case with this criminal gang? I always thought we did not allow criminals the right to make a profit from their crimes in this country, however it appears that the government are above this law too.
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