Forced To Report Voluntary

The FT reports that the number of people reporting their undeclared foreign assets to the UK tax authorities has increased by 22%. Why are people reporting more often?

People are not reporting voluntarily

What has forced them to do this in the last year? The Financial Times article says that:

• The UK budget has allocated funds for the tax administration to hire an additional 5,000 people to check taxpayers;

• the administration has sent out many more and more precisely targeted letters (a la, we see you now);

• more and more i…