Financial Times FT.com

Tax crackdown on trading via offshore companies

By Lucy Warwick-Ching

Published: April 21 2006 22:23 | Last updated: April 21 2006 22:23

Hundreds of wealthy investors who have been trading in stocks and shares through offshore companies are facing tax bills for hundreds of millions of pounds as the government cracks down on evasion.

HM Revenue & Customs has asked an unnamed US investment bank to disclose records of its clients who live in the UK and who have been using it to ?conduct share transactions via a company registered in a tax haven?.

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