This is a final reminder that the Liechtenstein Disclosure Facility (LDF) comes to an end on 31 December 2015. With less than two months to register, UK residents with unpaid tax must now come forward to register as a matter of urgency to avoid the harsher regime to follow. Read our Briefing Note entitled ‘Last Chance to use LDF’.
In this context, it is also worth noting of course that the era for global information exchange under the Common Reporting Standard (CRS) will soon be in our midst, with the first exchange of tax information occurring under CRS in 2017.
As has been widely reported, it is clear that HMRC will be receiving huge amounts of information on UK taxpayers and their assets held abroad under CRS. Therefore those affected should come forward now. Our Briefing Note on CRS can be found here.
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