Government set for £9bn offshore tax boost

Dave Hartnett, permanent secretary for tax (pictured), says a tax disclosure scheme with Liechtenstein - which allows UK taxpayers with undeclared assets in bank accounts in the tiny European principality to pay a reduced penalty in return for coming clean on their finances - has been more popular than originally expected. Hartnett said that the Liechtenstein Disclosure Facility [LDF], which was introduced in 2009, could raise up to £3bn by 2015 - a leap above the original estimate of £1bn. Britons with cash hidden in other offshore finance centres have transferred their money to Liec...