According to a report in today’s Financial Times, £3bn is expected to be raised from arrangement, under which tax-dodgers will be able to ‘regularise’ their affairs without any threat of prosecution.
Swiss authorities will tax accounts on behalf of the UK on a no-names basis, it was reported. There will also be a separate one-off charge in respect of past unpaid taxes, though no details were provided in the report.
The full details of the deal are likely to be announced this month, according to tax experts close to the negotiations between the UK and Switzerland.
