HM Revenue & Customs is offering investors the chance to volunteer the details of their deposits held in secret Liechtenstein with only limited penalties. Well limited being settling unpaid tax dating back 10 years, paying interest and a penalty of 10% of the tax. Sounds bad but it’s better than other investors who will have to settle tax dating up to 20 years, with some penalties of 10% and 20%.

And the grand value of this bargain? According to Accountancy Magazine nearly 5,000 British investors, thought to hold up to £3m could be involved. We’d like to see the cost benefit analysis on that one.