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PKF: First blood for Offshore unit will raise profile of LDF
This prosecution is another argument in favour of the more lenient Liechtenstein tax disclosure facility for British taxpayers with money hidden offshore, according to PKF tax investigation partner John Cassidy:
“This is the first court victory for HMRC’s Offshore Co-ordination Unit and it is unlikely to be the last. The prosecution sends out a strong message to anyone with hidden assets in offshore accounts: HMRC will do all it can to catch you if your tax affairs aren’t in order - whether through deliberate deception or through ignorance of your tax obligations – and you should come clean using an amnesty like the Lichtenstein Disclosure Facility before you get the knock on the door.”
Why was n't he jailed?
The woman providing the escort service was jailed.
Why was n't this man?
Friends in high places possibly cutting a deal...
Funny that...
Same rules for rich and poor?
So Rosamund Horwood-Smart QC says: “In this court there are no rules just for the rich and no rules just for the poor... the tax system relies on voluntary and honest disclosure of tax affairs and it applies to all equally” and then fines him what is presumably a very small proportion of his disposable wealth.