HMRC

HMRC plans to demand details of Offshore Trusts and companies from their Advisers

The Law Society has learned that HM Revenue and Customs (‘HMRC’) intends to write to firms that advise clients on the establishment of offshore trusts and companies, seeking information about beneficial ownership. The letter will precede a formal Notice under Schedule 23 Finance Act 2011, which will compel the recipient to provide information.    We…