Solutions for UK clients with offshore banking and fiduciary relationships

How to participate in the Liechtenstein disclosure facility (LDF)

Her Majesty's Revenue and Customs (HMRC) is offering UK taxpayers with assets or interests in Liechtenstein a disclosure facility (LDF) through which they can straighten their tax reporting obligations and settle their unpaid UK tax liabilities.

In order to take part in the LDF UK taxpayers have to do the following beforehand:

1. open a bank account in Liechtenstein, or
2. set up a Liechtenstein foundation, trust, or establishment, or
3. form a Liechtenstein company, or
4. transfer the administration of a structure to Liechtenstein

and consider transferring at least part of their assets to such accounts or structures in Liechtenstein.

By participating in the LDF as soon as possible, UK taxpayers are given the possibility to settle their tax liabilities quickly and with the most favourable outcome currently available. The longer a UK taxpayer waits, the higher the penalties and interests payable. Additionally, the risk of an investigation by HMRC increases.

Kaiser Ritter Partner is able to provide the guidance, assistance and support necessary for a successful LDF application as well as for long-term compliance and sustainable wealth and investment management.

Contact us for more information:

+423 237 82 00 +423 236 58 00 +423 236 52 87

Karl Safft – your contact partner for banking services Christian Jenny – your contact partner for setting up a Liechtenstein holding or fiduciary structure. Alex Schnyder - your contact partner for accounting and tax reporting services.

For information on the United States voluntary disclosure program, please click here.