What is the Liechtenstein Disclosure Facility (LDF)?
The LDF is a disclosure process for taxpayers with UK tax irregularities connected to a bank account, investment or structure (for example, a trust, foundation or company) in Liechtenstein. Tax, interest and a penalty will be charged, but HMRC is only seeking tax for the period from 6 April 1999 (from 1 April 1999 for companies), rather than the normal 20-year period. These conditions represent very favourable terms, particularly when combined with the offer of immunity from prosecution under the LDF.
Related Questions
- A client has assets in Liechtenstein or wants to transfer assets to Liechtenstein and wants to make a disclosure under the LDF. Do I need to report this activity?
- Is it allowable to include consent for occupational exposure testing and related disclosure on a facilitys general consent form?
- What is special about the Liechtenstein Disclosure Facility?
