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  1. Wealth
May 11, 2011

FT: HMRC aiming for billions from LDF

By Spear's

Revenue & Customs said it was on track to collect billions of pounds from its amnesty with Liechtenstein, after statistics showed the deal had brought in just over £140m from tax evaders so far.

Revenue & Customs said it was on track to collect billions of pounds from its amnesty with Liechtenstein, after statistics showed the deal had brought in just over £140m from tax evaders so far.

Investors with secret accounts have held back in recent months as they waited to see if more generous terms would be on offer from a deal being negotiated with Switzerland. But the Revenue insisted that uptake under the Liechtenstein disclosure facility would accelerate, although it is considering extending the deal by a year to 2016 to compensate for uncertainty over the Swiss deal.

About 80 investors had been coming forward every month, according to official figures. These showed that 1,351 taxpayers registered for the facility in its first 18 months to March. A second wave is expected to come forward after October when Liechtenstein banks and trust companies are due to notify clients of the deal.

To read the full story, visit ft.com

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