News Archive

News Archive - September 2009


IRS extension of deadline for disclosing offshore accounts

23/09/2009
The US Internal Revenue Service recently announced an extension of the deadline for special voluntary disclosures by taxpayers with unreported income from hidden offshore accounts. These taxpayers now have until 15 October 2009. Under special provisions issued in March, taxpayers with these hidden accounts originally had until 23 September 2009 to come...
Read More...

Queen's bankers involved in tax dodge

22/09/2009
Coutts, often referred to as the "Queen's Bank" by virtue of it being reputed to be the bankers to the British Royal Family has been caught operating an unlawful £1 billion tax avoidance scheme for some of its wealthiest clients. In brief, the scam centred on a Swiss-based investment trust (Castle Trust) that made a deliberate loss....
Read More...

Comparison NDO (New Disclosure Opportunity) and LDF (Liechtenstein Disclosure Facility)

15/09/2009
There has been considerable press coverage recently about two schemes which allow UK tax payers opportunities to disclose previously undeclared income to UK authorities. Both schemes offer an opportunity to settle unpaid tax on undeclared income while offering favourable penalty rates for overdue tax. Anyone who may be concerned by either of these opportunities...
Read More...