TaxCorporate TaxLiechtenstein amnesty users top 700 says taxman

Liechtenstein amnesty users top 700 says taxman

Sources at HM Revenue and Customs say the number of taxpayers signing up to the Liechtenstein Disclosure Facility has risen to more than 700

More than 700 individuals with previously undisclosed offshore accounts have
signed up to pay their tax bills through the Liechtenstein Disclosure Facility
(LDF).

A senior figure at the taxman confirmed the latest numbers to Accountancy
Age.

The taxman’s last update on the LDF to March 2010 reported 419 had come
forward, which was seen by some in the profession as a disappointing start.

However, senior figures at HMRC rejected this suggestion, adding that the
steady increase in numbers is a clear sign that the amnesty is working.

Advisers expect another hike in activity when key legislation, requiring
Liechtenstein banks to contact clients they believe may have undeclared UK tax
liabilities, comes into force.

The LDF runs until 2015.

Further reading:

Only
419 register for Liechtenstein amnesty: McGrigors

Video:
Liechtenstein amnesty update

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