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The revenue from HMRC’s Liechtenstein disclosure facility (LDF) is likely to fall significantly short of its £3bn target, according to solicitors Irwin Mitchell.
The expected yield was £1bn at the initiative’s launch in September 2009, but the Revenue tripled the forecast after raising £140m in the first 19 months.
It is time for a general tax amnesty
"Historic" anti-evasion deal set to take effect as scheduled
200,000 more taxpayers to come under scrutiny
Disclosure initiative clarified by third memorandum of understanding
Revised agreement sees rise in payment limits
LDF given one-year extension as DTA is signed
Intermediaries' notification deadline extended
More taxpayers expected to be scrutinised in shorter time
'A clear indication HMRC are stepping-up fight against evasion'
'Many individuals won't register until last minute'
JONATHAN LEVY and MATTHEW GREENE summarise the likely course of an HMRC criminal investigation
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