HMRC Sets Out How It Will Scrutinise Wealthy Britons' Assets, Investments and Overseas Financial Affairs

HMRC has sent letters to wealthy taxpayers seeking details of their financial affairs (Photo for illustration purposes only) (Credit: Images_of_Money's/Wikimedia Commons CC BY 2.0)

HM Revenue and Customs (HMRC) has sent letters to wealthy taxpayers asking them to discuss their assets, investments, business interests and overseas financial arrangements as it seeks to build a clearer picture of their tax affairs.

The letters, sent by HMRC's Wealthy Team, invite recipients to meet with dedicated Customer Compliance Managers (CCMs) to discuss their financial affairs. The department says the approach is intended to identify tax risks and help people meet their obligations, although it may still carry out formal compliance checks.