Liechtenstein tax disclosures
HMRC have launched a telephone desk to answer questions on the new Liechtenstein Disclosure facility (LDF). This new disclosure opportunity will assist UK taxpayers with investments in Liechtenstein, which have not been taxed, to make a full disclosure to HMRC.
The LDF commenced on 1 September 2009 and will run until 31 March 2015. Both HMRC and the Liechtenstein authorities expect that by the end of the LDF all UK taxpayers with Liechtenstein investments will be fully tax compliant.
The telephone helpdesk can be contacted on 0845 600 4680 (+44 151 300 2750 from outside the UK) and will be open Monday – Friday from 8:30am to 5:00pm.
Taxpayers who do not make full disclosures by the end of the programme will find their accounts in Liechtenstein closed down as well as facing penalties of up to 100% on unpaid taxes.