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Turn a new leaf

There is no longer a great deal of time remaining to take advantage of one of the last remaining tax disclosure opportunities; act now

29 September 2015

Time is running out to use an advantageous way of regularising past international tax problems; the Liechtenstein Disclosure Facility (LDF).

The LDF allows those with UK tax liabilities from overseas assets to make HMRC aware of their position, in return for a lower tax bill, reduced penalties and where appropriate, with a guarantee of no prosecution.

But this all comes to an end on 31 December 2015.

Nowhere to run, nowhere to hide

Throughout the developed world, we have seen a diminishing tolerance for tax evasion, and so it continues. In a further turn of the screw, the government intends to make not declaring an offshore asset a criminal offence, with no room for excuses.

Meanwhile international agreements will soon start to see tax authorities, inclu...

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