Three firms have informed the Law Society that they have now received formal Notices from HMRC requiring client information on the beneficial ownership of offshore companies and beneficial interest in offshore trusts, partnerships and similar entities to be provided by 25 May.
The Law Society is liaising closely with the firms about next steps, which could include appealing against the Notices.
If you receive such a Letter of Notice then the Law Society would like to hear from you - please contact Ronan Casey.
The Notices received confirm that HMRC is not seeking material that is covered by privilege.
The Law Society has published guidance on the implications of HMRC Notices on legal professional privilege.