These are announced from time to time by HMRC. They are well publicised, and request voluntary disclosures of undeclared income from specific sources, for example rents from property, and offshore interest.
A recent example is Liechtenstein Disclosure Facility (LDF). The LDF will close for all new registrations earlier than planned i.e. at the end of 2015.
The LDF offers taxpayers with investments held in Liechtenstein the chance to disclose all tax liabilities relating directly or indirectly to a Liechtenstein bank account, entity or holding structure.
A favourable penalty regime is available to encourage taxpayers who need to regularise their tax affairs and get some peace of mind, by coming forward and making a disclosure.
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