Liechtenstein Disclosure Facility - Gilbert Tax

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Liechienstein Disclosure Facility

This Disclosure Facility is now closed. The information on this page is provided for reference.

The Liechtenstein Disclosure Facility is the oldest available offshore disclosure facility to be available for people whom have committed tax fraud to clean up their tax affairs.

HMRC are also offering the following offshore disclosure facilities:

  • Isle of Man Disclosure Facility
  • Jersey Disclosure Facility
  • Guernsey Disclosure Facility

The Liechtenstein Disclosure Facility, in common with the other offshore disclosure facility offer the opportunity for someone to disclose details of tax evasion to HMRC with favourable terms being that the tax evasion only has to be disclosed from 1 April 1999 and the penalties are normally between 10 and 20%.

Unlike the other offshore disclosure facilities there is also the facility to have a composite rate charge of 40% for tax years to 2010. In some instances this can be beneficial and mean a lower tax charge.

The Liechtenstein Disclosure Facility is available until 5 April 2016. It is not necessary to have a prior link to Liechtenstein in order to take part, however in order to qualify for the Liechtenstein Disclosure Facility assets have to be moved to Liechtenstein. This has to be a considerable sum otherwise the relevant accord between HMRC and the Liechtenstein authorities will not be met. For many people wishing to disclose tax evasion one of the other current offshore disclosure facilities may well be a better option.

As with the other offshore disclosure facilities the Liechtenstein Disclosure Facility is not usually available to people who have an open tax investigation.

Full payment of all liabilities is expected at the time the Liechtenstein Disclosure report is made, but it is sometimes possible to agree a time to pay arrangement.

HMRC’s question and answer fact sheet on the Liechtenstein Disclosure Facility is here.

It is clear that the G8 and OECD nations are determined that holding offshore assets to assist in tax evasion comes to an end.

As set out earlier HMRC are offering at the moment a number of offshore disclosure facilities are an ideal opportunity for people to regularise their tax affairs (or that of their business). In addition to the Liechtenstein Disclosure Facility the current offshore disclosure facilities are as follows:

  • Isle of Man Disclosure Facility
  • Jersey Disclosure Facility
  • Guernsey Disclosure Facility

How Can We Help?

Gilbert Tax understands that people sometimes make mistakes in their dealings with HMRC and that HMRC make mistakes in dealing with taxpayers. Many people do not know how to deal with HMRC or who to turn to for help resolve the tax dispute.

Gilbert Tax is a firm of tax advisors who specialise in resolving people's problems with HMRC. We have extensive expertise in dealing with all forms of tax investigations and tax disputes as well as with taking matters to the Tax Tribunal where agreement cannot be reached.

Gilbert Tax deal both directly with the individual who is under enquiry and also work with many firms of accountants supporting them in dealing with HMRC disputes and advising them on how to handle HRMC to get the best result.

The fact is that proper management of HMRC is the best way of reducing the tax, interest and penalty as well as the time taken in resolving any tax dispute.

Gilbert Tax are none judgemental and rigorously defend your position within the scope and parameter of the law. We take control and manage the process to minimise the interruptions that any form of tax investigation causes to an individual's life and business.

For helpful, no obligation and confidential advice call 0800 734 3333

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