Rich Brits Give Up Almost Nothing Under Final Chance Tax Program
Photographer: Matthew Lloyd/Bloomberg
The U.K. taxman is coming under fire over its program giving the wealthy one last opportunity to disclose income or assets stashed in secretive offshore accounts.
The so-called final chance initiative had netted 53.4 million pounds ($70.8 million) in tax, interest and penalties by early February, according to a Freedom of Information Act request. The program, which closed at the end of last year is still tallying the final amount, but it’s expected to fall far short of the 300 million pounds anticipated.