A new Worldwide Disclosure Facility (WDF) is to be launched on Monday 5 September 2016 allowing those with undisclosed offshore income, gains, investments or assets to settle and regularise their tax affairs with HM Revenue & Customs. The WDF replaces previous disclosure schemes such as the Liechtenstein Disclosure Facility and the Crown Dependencies Disclosure Facilities and, whilst the full details have yet to be released, it is expected that it will not offer the kind of favourable terms and lower penalties offered by the previous disclosure arrangements.
If you have any queries relating to this or any other wealth planning matter, please contact Robert Drysdale, Karen Methold or Chris Cooke in our Wealth Planning team.
