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| Version 0 | Version 1 |
|---|---|
| UK and Liechtenstein in tax deal | UK and Liechtenstein in tax deal |
| (about 2 hours later) | |
| The UK is expected to sign a deal to recover lost tax from Britons holding bank accounts in Liechtenstein. | The UK is expected to sign a deal to recover lost tax from Britons holding bank accounts in Liechtenstein. |
| HM Revenue & Customs (HMRC) has agreed with the Alpine tax haven to start exchanging information. | |
| Up to 5,000 British investors have an estimated £3bn stashed away in secret accounts in the country. | Up to 5,000 British investors have an estimated £3bn stashed away in secret accounts in the country. |
| Investors are expected to be offered the chance to volunteer details of their deposits in return for limited penalties and low risk of prosecution. | Investors are expected to be offered the chance to volunteer details of their deposits in return for limited penalties and low risk of prosecution. |
| More details of the deal with Liechtenstein's royal family and its government will be announced later on Tuesday. | More details of the deal with Liechtenstein's royal family and its government will be announced later on Tuesday. |
| Pressure has mounted on tax havens to share information since April's G20 Summit and similar deals have already been struck with the US and Germany. | Pressure has mounted on tax havens to share information since April's G20 Summit and similar deals have already been struck with the US and Germany. |
| The small principality between Switzerland and Austria is renowned for the secrecy that shrouds the financial affairs of rich investors. | The small principality between Switzerland and Austria is renowned for the secrecy that shrouds the financial affairs of rich investors. |
| It was once considered to be among the most secretive jurisdictions in the world. | It was once considered to be among the most secretive jurisdictions in the world. |
| Governments are particularly keen to trace and recover unpaid revenues as tax receipts fall in the global recession. | Governments are particularly keen to trace and recover unpaid revenues as tax receipts fall in the global recession. |