Changes to Liechtenstein Disclosure Facility
HMRC have announced some changes to the Liechtenstein Disclosure Facility which should make this remarkable opportunity even easier to use.
EDF Tax says:
The Liechtenstein Disclosure Facility (LDF) remains an excellent opportunity for those with tax problems related to overseas assets (not just in Liechtenstein) to disclose them on advantageous terms to HMRC.
The recent changes streamline the process. For example from 1 December 2011, UK taxpayers will need to provide HMRC with a simple Confirmation of Relevance (COR) to register. ‘The COR will be issued by the Liechtenstein financial intermediary as proof their UK clients has acquired a qualifying asset or established a connection with Liechtenstein’s financial centre. This will streamline the registration process, providing certainty as to what is needed.’
Who to contact?
To know more about the LDF and how it can be used to make savings when a disclosure of previous errors is required call Iain Macleod on 07920 146800 or email imacleod@edftax.co.uk.