HMRC still welcome voluntary disclosures with regards to Liechtenstein and other overseas assets.
Until December 2015, HMRC are offered the fantastic Liechtenstein Disclosure Facility (LDF) to UK taxpayers with bank accounts or assets abroad.
The facility allowed taxpayers to disclose hidden assets to HMRC, in return for some remarkable benefits.
Our investigation experts in both our London and Manchester offices are dealt with the LDF which is being dubbed the best chance ever from HMRC.
These benefits encourage taxpayers to make a voluntary disclosure.
Provided you make a full confession to HMRC and the money does not come from criminal activity.
HMRC can normally charge penalties of up to 200%; the LDF limits this.
Your name, address and details of your offence will be kept out of the UK’s newspapers.
In cases of serious tax fraud HMRC can look into your affairs for the last 20 years. However, this is not a rolling 10 year window and means HMRC can only go back as far as April 1999 (when the LDF was launched in 2009)
You can take advantage of this facility providing you have just one link to Liechtenstein; We can set this up for you.
If HMRC choose to run a criminal investigation you could face up to 7 years in prison and a large penalty.
Thanks to new laws, if HMRC prove you haven’t paid all of your taxes, details of your offence and personal details could cover the front pages of our newspapers, should you choose to not take part.
You could be forced to sell property or other assets in order to pay high bills.
As it stands, in addition to your tax bill you could be charged HMRC penalties of up to 200% plus daily interest.