ARTICLE · 06 JULY 2015

Offshore Tax Disclosures: Use The LDF While You Can

BDO LLP

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Tax authorities around the globe are increasingly working together to fight tax evasion and aggressive tax avoidance to collect more tax.

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Tax authorities around the globe are increasingly working together to fight tax evasion and aggressive tax avoidance to collect more tax. In the UK, HMRC is geared up to take full advantage: anyone who needs to put UK tax irregularities right should do so while the Liechtenstein Disclosure Facility (LDF) is still available.

LDF CLOSES IN APRIL 2016

The LDF will close to new registrations on 5 April 2016. Although the terms of the facility were changed in August 2014, it remains the most attractive and successful disclosure facility that HMRC has offered. The key benefit, immunity from prosecution, remains open to all users and some will still be able to benefit from the original low fixed penalty rates.

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