Liechtenstein deal 'to net £1bn'

A breakthrough deal to recover lost tax from Britons holding bank accounts in Liechtenstein will net £1bn, Chancellor Alistair Darling has said. HM Revenue & Customs struck an agreement last month with the Alpine tax haven to exchange information. Up to 5,000 British investors are thought to have funds in secret accounts in the country - which would mean an average pay-back of £200,000.

The Revenue has requested details of 100,000 offshore accounts worldwide. Tackling offshore evasion tax evasion and tax havens was "not only fair" but "particularly important... especially at a time when we expect public spending in the period ahead to be tighter", Mr Darling told the CBI Scotland annual dinner.
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