Expats on Hacienda tax hit list

Tax expert Peter Howarth says the Hacienda - the Spain tax authority - is now routinely investigating all forms of investment and pension income from overseas. "A number of clients have reported receiving letters about their offshore bank accounts. It is the first time we have seen the Hacienda using information supplied by a tax haven to pursue tax on undeclared income. The Hacienda has also sent enquiries based on information received from other OECD tax authorities." In particular, Howarth explains this might affect both residents who have offshore accounts and those who are claim...