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Around 300 wealthy Britons are facing prosecution after they were caught hiding away more than £1bn in the tax haven of Liechentstein. The tax evasion scandal first broke in February when a whistleblower working for one of the tax haven's main banks, LGT, sold lists of tax evaders to foreign governments. UK Revenue & Customs is now trying to force around 25 foreign banks to reveal information about their clients with offshore accounts. It is not just UK clients who are coming under scrutiny. Vaduz Castle in Liechtenstein, which has become a tax haven for wealthy individuals Dave Hartnett, acting chairman of Revenue & Customs, said: ' Having seen what we have seen, we are now worried about the rest.' In total, more than 15,000 of LGT’s clients from 50 different countries are believed to have salted away up to £110bn with the... [read full story]
