Richard Clarke provides his top five developments of 2011
Five key issues concerning HMRC in 2011 are as follows:
This far-reaching agreement was signed in October. The aims seems clear – to force UK people with hidden Swiss wealth to either come clean now (probably using the more generous terms of the Liechtenstein Disclosure Facility (LDF)) or to sit tight and have anything from 19–34% of their account balances taken automatically by their bank in 2013 with continued risks of discovery throughout the coming year. The disclosure option under the agreement will not be a practical route for the non-compliant as it will allow the full force of HMRC to come after them for the past...
