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Wealthy families should clear tax backlog, says expert

Wealthy families and family offices in the UK should take advantage of the Liechtenstein Disclosure Facility and clear off any tax arrears, according to legal expert Philip Marcovici.
Philip Marcovici reckons that wealthy British families should clear their tax backlog

Wealthy families and family offices in the UK should take advantage of the Liechtenstein Disclosure Facility and clear off any tax arrears, according to legal expert Philip Marcovici.

The former partner at Baker & McKenzie told CampdenFO that the LDF has many benefits over the new Swiss-UK agreement signed to tackle offshore tax evasion, one of which is the immunity from prosecution.

His comments come at a time when wealthy British families, who have attempted to move assets to the Alpine country to avoid a tax levy, are under pressure to come clean.

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