UK Receives Information Requests from Overseas Tax Authorities

UK Receives Information Requests from Overseas Tax Authorities

According to the new research, the UK tax authority has seen a significant increase in information requests about UK-based foreign nationals from overseas tax authorities investigating tax evasion.

International law firm Pinsent Masons found that requests for information about taxpayers received by the UK government from overseas tax authorities increased by 18% in the 2011-2012 financial year. Those requests were made in accordance with double taxation agreements. The UK has one of the world’s largest networks of tax treaties (over 100).

The results of the research mean that not just the UK tax authority increased the pressure on taxpayers. Many individuals move their assets to the UK, so their home tax authorities are interested in taxation of their assets. The largest number of requests for information came from Norway, followed by France, Spain and India.

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