Liechtenstein Disclosure Facility (LDF)

The LDF is a facility provided by HMRC to support the reviews to be carried out by banks, wealth management firms and financial intermediaries in Liechtenstein to identify those who may have liability to UK tax. The LDF allows UK residents with unpaid tax linked to investments or assets in Liechtenstein to settle their tax liability before “discovery” by HMRC and the levying of more draconian measures against them.

The LDF will run from 1 September 2009 until 31 March 2015. The LDF goes back 10 years whereas the New Disclosure Opportunity (NDO) in respect of undeclared offshore bank accounts goes back 20 years. Also, under the NDO the disclosure deadline is much shorter – only up to 12 March 2010.

RKG Consulting can counsel and assist taxpayers and their advisers in regard to both the LDF and the NDO in complete confidentiality.