Offshore - Liechtenstein Disclosure Facility

Confirmed details are now available on the terms of the Liechtenstein Disclosure Facility (LDF) which was announced yesterday. You can read the Memorandum of Understanding and Joint declaration

The LDF is a bespoke service to support the reviews to be carried out by the Financial Intermediaries in Liechtenstein to identify those who may have liability to UK tax. The LDF allows people with unpaid tax linked to investments or assets in Liechtenstein to settle their tax liability under this special arrangement.

The LDF will run from 1 September 2009 until 31 March 2015. The Liechtenstein Help Desk and telephone lines will be open from 1 September 2009.

In the run up to the registration date to help you prepare we will post on the HMRC website basic information and FAQ’s for anyone who thinks they may qualify to register or if you are a Tax Agent or Adviser with clients that may qualify to register.

• Joint Declaration by the Government of the Principality of Liechtenstein and Her Majesty’s Revenue and Customs Concerning the Memorandum of Understanding Relating to Cooperation in Tax Matters Signed on 11 August 2009 (PDF 37K)
• Memorandum of Understanding Between The Government of The Principality of Liechtenstein (“government Of Liechtenstein”) and Her Majesty’s Revenue and Customs (“HMRC”) of The United Kingdom of Great Britain and Northern Ireland Relating To Cooperation in Tax Matters (PDF 81K)