As winter approaches, heating, electricity and food expenses are expected to climb even higher, potentially pushing more households into debt crises. At the same time, HMRC has announced the restart of its Direct Recovery of Debts (DRD) scheme, which allows the tax authority to deduct unpaid taxes directly from individuals’ bank accounts.

The new regulations impose high-frequency, high-dimensional reporting obligations on platforms. They also introduce automatic identity and transaction data matching for sellers—signalling the end of the grey-area practices involving offshore platforms, offshore income, and missing declarations. Given the situation, many have wondered – does Hong Kong still offer a low-tax advantage for businesses?

We often encounter clients who are confused about their tax obligations, particularly when it comes to income earned overseas.

We recently handled a case which we’d like to share with you.  It’s regarding the investigation of an individual’s overseas income.