Our tax investigation specialists have helped many clients make the most of the Liechtenstein disclosure facility, which offered potentially favourable terms to those willing to come clean on their offshore accounts.
In 2009 HMRC announced the Liechtenstein disclosure facility, which is often abbreviated to LDF. Under this scheme, holders of undisclosed offshore accounts are encouraged by the possibility of securing favourable terms to come forward and make a disclosure. This facility closed to new applications on 31 December 2015.
The early closure of the LDF would seem to be in keeping with the growing public and media hostility to tax evasion. At the time it was announced that the LDF and the three British Crown Dependencies Facilities would be closing HMRC indicated that one final disclosure facility to run between 2016 and 2017 would be available. Very little further information has been published and it now seems likely that this new last chance facility will not now materialise.
Our team of tax investigation specialists have already helped many clients to make disclosures in respect of their offshore assets and investments using the Liechtenstein disclosure facility and the British crown dependencies facilities, and although these facilities are no longer available we are able to assist in making a voluntary disclosure of offshore assets to HMRC’s specialist teams.
If you would like to discuss your circumstances in complete confidentiality, please call us now on +44 (0)800 032 8374.