The Straits Times
Published on Nov 09, 2012

UK taxman probing HSBC Jersey accounts: Report


LONDON (REUTERS) - British tax authorities are examining details of more than 4,000 British clients of HSBC in Jersey after a whistle-blower handed them a list of names, addresses and account balances this week, the Daily Telegraph reported in its Friday edition.

HMRC, Britain's revenue service, is now combing through the list to establish whether some clients used the offshore bank accounts to avoid paying British taxes, the newspaper wrote.

The list identifies 4,388 British-based people holding £699 million pounds (S$1.37 billion) in current accounts and includes celebrities, bankers, doctors, mining and oil executives and oil workers, the Telegraph wrote. The list also includes about 4,000 account holders with addresses outside Britain.

HSBC, Britain's biggest bank, declined to comment on the report, but a spokesman told the Telegraph: "HSBC has a duty of confidentiality and cannot comment on clients even to confirm or deny they are clients. We have good relationships with our regulators and co-operate with investigations when required to do so."