Call for savings directive amnesty

The government should introduce a tax amnesty when new EU rules come into
effect on Friday.

From Friday, the government will be able to access the details of those who
hold accounts in the EU, a move that is likely to result in thousands of
enquiries as to the nature of offshore holdings.

Accountancy firm Blick Rothenberg has suggested that the UK government should
offer a temporary amnesty from investigation and prosecution for those caught by
the new rules.

The move is thought to be unlikely. A spokesman for Revenue & Customs
told The Telegraph: ‘Those who cheat the system will be subject to our
scrutiny sooner rather than later.’

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