HMRC focuses on:
- High-net-worth individuals with complex holdings,
- Suspicious UK tax affairs that justify deeper scrutiny and
- Pensioners on Pension Credit.
(For more, including bank snooping, CLICK HERE & HERE )
Even for AML database entries, a person is more likely to be struck by lightning twice in the same year than to be investigated as to overseas assets.
HMRC cannot go on a fishing expedition. They have to target a particular individual each time.
Barny’s Verdict:
“Unless you ping the radar, you’re just another dot in the fiscal fog.”