HMRC have received a leaked document from HSBC giving details of 4,388 British residents with bank accounts held with them in the tax haven of Jersey.

“We can confirm we have received the data and we are studying it”, HMRC said in a statement.  “Clamping down on those who try to cheat the system through evading taxes”.

The information is the latest in a string of illegal leaks of private offshore financial details from some of Europe’s most controversial tax haven jurisdictions.

Source: www.guardian.co.uk

The impact of this leak is that HMRC can reconcile the account details they have been given with the information reported on individual Self Assessment Returns.

Therefore it may be beneficial to declare any error immediately.