Starting a new business? Get 40% off our accountancy services for 3 months! 😀


The Offshore Co-ordination Unit, based in Birmingham, is the latest attempt by HM Revenue & Customs to clamp down on tax evasion. The unit will concentrate on the co-ordination of all information received, starting with details of taxpayers in the UK with bank accounts overseas.

The recent Liechtenstein treaty forms part of the investigations, with HMRC having more data than the British Library, about 80 times more. The man in charge of the new unit is Greg Skyte, who is currently in charge of a team of around 25 members which is due to expand to 100 over the next few years.

The first project for the Birmingham team was to issue letters to the initial 1000 people who are said to have bank accounts in the Swiss HSBC bank. A total of 6000 account holders have been uncovered. Account holders will be expected to provide confirmation that they don’t have any tax due to HMRC, and if they do they will be expected to come forward.

The deal with Liechtenstein has already brought in £140 million, as 1721 people have volunteered information of accounts held there, untaxed in the UK. Liechtenstein banks are to write to UK customers, asking if they have declared all taxable income to the authorities in the UK. If they can’t confirm this, they will have their accounts closed down.
Greg admits that they don’t have sufficient staff to deal with offshore tax evasion on a large scale, but all details will be held on file for further investigation by HMRC and foreign authorities.

About The Author

Gary Fields

Content Writer working alongside our expert accountants to bring you the latest Tax and Accounting news.

More posts by this author
Inline Feedbacks
View all comments

Read more posts...

Umbrella Companies for Self-Employed Contractors

When you set up in business as a contractor you might either work as a sole trader or as a limited company….

Read More

Get Ready for Small Business Saturday UK 2022

Small Business Saturday started in the US in 2010, on the first Saturday following Thanksgiving. It aims to encourage shoppers to consider…

Read More

Architects and Tax

Architecture is a highly diverse sector when it comes to tax. It’s partly down to the type of businesses that carry out…

Read More
Back to Blog...

Confirm Transactions

The number of monthly transactions you have entered based on your turnover seem high. A transaction is one bookkeeping entry such as a sale, purchase, payment or receipt. Are you sure this is correct?

Yes, submit my quote
No, let me change it

Please contact our sales team if you’re unsure

VAT Returns

It is unlikely you will need this service, unless you are voluntarily registered for VAT.

Are you sure this is correct?

Yes, the business is VAT registered
No, let me change it

Call us on 020 3355 4047 if you’re not sure.


You only need this service if you want us to complete the bookkeeping on your behalf.

Would you prefer to complete your own bookkeeping?


Call us on 020 3355 4047 if you’re not sure.