LDF tax amnesty criticisms are ‘balderdash’

Deputy Editor
Sift Media
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HMRC hits back at claims of ‘disappointing’ response to Liechtenstein Disclosure Opportunity.

Claims that the Liechtenstein Disclosure Facility (LDF) has been a failure are ‘balderdash’, said a HMRC spokesperson today.

Just 419 taxpayers registered for the LDF between 1 September 2009 – 31 March 2010, compared to 10,000 who registered for the New Disclosure Opportunity – a disappointing outcome for HMRC, according to commercial tax and law firm McGrigors.

The firm said it was yet another example of poor responses to HMRC disclosure initiatives, following news that only about 1,500 medical professionals had registered for a special tax amnesty – out of 30,000 believed to have undisclosed tax liabilities.

“There has been a...

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