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| Version 1 | Version 2 |
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| Liechtenstein tax deal flushes out 2,000 evaders | Liechtenstein tax deal flushes out 2,000 evaders |
| (about 17 hours later) | |
| Some 2,000 people from the UK with money invested in Liechtenstein have come forward after the tax haven was put under the spotlight. | Some 2,000 people from the UK with money invested in Liechtenstein have come forward after the tax haven was put under the spotlight. |
| The UK taxpayers have contacted HM Revenue and Customs (HMRC) after the UK authorities struck a deal with the government of Liechtenstein in 2009. | The UK taxpayers have contacted HM Revenue and Customs (HMRC) after the UK authorities struck a deal with the government of Liechtenstein in 2009. |
| By confessing, these people face penalties amounting to just 10% of the tax they have evaded. | By confessing, these people face penalties amounting to just 10% of the tax they have evaded. |
| Tax officials said that the numbers exceeded their expectations. | Tax officials said that the numbers exceeded their expectations. |
| Disclosure 'opportunity' | Disclosure 'opportunity' |
| As many as 5,000 British investors are thought to have stashed an estimated £3bn in secret accounts in Liechtenstein. | As many as 5,000 British investors are thought to have stashed an estimated £3bn in secret accounts in Liechtenstein. |
| Those who come forward still have to pay their back-taxes, and interest, going back up to 10 years. | Those who come forward still have to pay their back-taxes, and interest, going back up to 10 years. |
| Those who do not take advantage of the disclosure "opportunity" in Liechtenstein will face fines amounting to 150% of their unpaid tax, as well as back-taxes and interest. | |
| The offer was set to finish at the end of March 2015, but has now been extended to April 2016. | The offer was set to finish at the end of March 2015, but has now been extended to April 2016. |
| "This government is committed to ensuring that offshore income is properly taxed," said UK Exchequer Secretary David Gauke. | "This government is committed to ensuring that offshore income is properly taxed," said UK Exchequer Secretary David Gauke. |
| "This agreement takes that commitment forward by providing greater transparency and certainty to the taxpayers of both our countries about how their incomes and gains will be taxed." | "This agreement takes that commitment forward by providing greater transparency and certainty to the taxpayers of both our countries about how their incomes and gains will be taxed." |
| Dave Hartnett, permanent secretary for tax at HMRC, said: "As the number of disclosures already exceeds the total we originally expected for the whole period of the [disclosure opportunity], we have agreed with the Lichtenstein government that it makes sense to extend the facility by one year." | Dave Hartnett, permanent secretary for tax at HMRC, said: "As the number of disclosures already exceeds the total we originally expected for the whole period of the [disclosure opportunity], we have agreed with the Lichtenstein government that it makes sense to extend the facility by one year." |
| Fiona Fernie, tax investigations partner at accountancy firm BDO, said: "This is a clear indication that the Liechtenstein disclosure facility has been a huge success so far." | Fiona Fernie, tax investigations partner at accountancy firm BDO, said: "This is a clear indication that the Liechtenstein disclosure facility has been a huge success so far." |
| "Clearly it's proving to be a good money spinner for the UK Revenue," she added. | "Clearly it's proving to be a good money spinner for the UK Revenue," she added. |
| In a separate agreement signed last year, undeclared money held by UK taxpayers in Swiss accounts is to be taxed for the first time, at up to 34% of the total. | In a separate agreement signed last year, undeclared money held by UK taxpayers in Swiss accounts is to be taxed for the first time, at up to 34% of the total. |