March 31st in Uncategorized by Editor .

Offshore account holders offered tax deal

Thousands of British investors with up to £3bn stashed in secret Liechtenstein bank accounts will be asked to come forward voluntarily under a deal to be negotiated next week that could be the first of many worldwide, the Financial Times reported.

Lawyers said the Liechtenstein plan, discussed behind closed doors with the Paris-based Organisation for Economic Co-operation and Development, could serve as an international model for other tax havens seeking to avoid an OECD blacklist, according to the newspaper.

The offer is …

Charles Tyrwhitt UK
 


Thousands of British investors with up to £3bn stashed in secret Liechtenstein bank accounts will be asked to come forward voluntarily under a deal to be negotiated next week that could be the first of many worldwide, the Financial Times reported.

Lawyers said the Liechtenstein plan, discussed behind closed doors with the Paris-based Organisation for Economic Co-operation and Development, could serve as an international model for other tax havens seeking to avoid an OECD blacklist, according to the newspaper.

The offer is part of a planned second partial amnesty by HM Revenue & Customs offering taxpayers the chance to come clean about money hidden in offshore bank accounts in return for limited penalties.

The first tax amnesty in 2007 raised about £400m from UK holders of undeclared offshore bank accounts.

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