I defend individuals, businesses and companies who are under any sort of tax investigation or tax
enquiry by H M Revenue and Customs (HMRC) or have any sort of tax dispute with HMRC.
26/03/2012
Update on UK/Swiss Tax
Agreement - Inheritance Tax
15/12/2011
Swiss UK/Tax Agreement
19/09/2011
Wot! No News?
19/09/2011
Offshore Tax Evasion Penalties
Doubled
Latest News
07/02/2011
Offshore Tax Evasion Penalties Doubled
From 06 April 2011 there will be new penalties for tax evasion which involves an offshore bank account. The
maximum penalty will be linked to the transparency of the country concerned. For accounts in countries which have
full information exchange agreements with the UK, the maximum penalty will remain at the current (maximum) of an
amount equal to 100% of the tax. Where there is an exchange of information but it is limited, the maximum penalty
will become 150% and for countries where there is little or no information exchanged then the maximum penalty will
be going up to a staggering 200%. (Countries in the third (200%) category include Andorra, Bahrain, Belize,
Columbia, San Marino, UAE etc). Switzerland for example would fall in the 150% category.
Given that most taxpayers who have bank accounts in such countries could well qualify (with the right advice) for the
"Liechtenstein Disclosure Facility" (LDF) you would have to be mad not to make a disclosure under LDF (with the
right advice). With LDF, not only can you get a 10% penalty instead of say the maximum 200% (!) but you also get
immunity from prosecution and HMRC can only go back 10 years instead of the usdual 20 years.
Call me or email me for free, confidential advice.
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