Wealth & Risk Management Blog

William Byrnes (Texas A&M) tax & compliance articles

UK Income From Its Offshore Disclosure Facilities | Kluwer International Tax Blog

Posted by William Byrnes on August 3, 2015


UK Income From Its Offshore Disclosure Facilities | Kluwer International Tax Blog.

In 2011, HMRC forecast that it would receive “billions” from the Swiss Disclosure Facility.  In 2012, HMRC stated that this number would be five billion sterling, and another three billion sterling from the Liechtenstein Disclosure Facility (LDF).  This implies that at least a couple hundred thousand United Kingdom tax residents are non tax compliant through not disclosing income and income-producing assets overseas, in offshore countries.  

So what have the results been?  What are the future results likely to be?  Read Byrnes and Perryman at UK Income From Its Offshore Disclosure Facilities | Kluwer International Tax Blog.

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