HMRC is pursuing at least 1,720 individuals outside the UK for a tax settlement under the loan charge rules.

The data was contained in a freedom of information request published on the HMRC website earlier this month.

Miles Dean commented:

“International tax treaties and directives give the UK authorities power to ask counterparts to assist in the recovery of UK tax due.

“The big question is whether the foreign authorities in Australia and New Zealand would be minded to help the UK in respect of such large numbers of cases, especially when these may be relatively small in terms of cash sums.”

Read Miles’ comments in FTAdviser