In just three months' time, the curtain will come down on the Liechtenstein Disclosure Facility (LDF).
Anyone with uncertain tax positions or known tax problems should take specialist tax advice. Should there be tax to pay, the tax savings would be significant.
The LDF guarantees immunity from prosecution for tax offences and offers low, fixed rated penalties. There is also a special facility within the LDF which enables historic amounts of UK Inheritance Tax to be waived, creating massive savings for trusts whose governance may not have kept pace with the tidal wave of law changes in this area.
However, time is short the deadline is 31st December 2015 so individuals need to act fast or risk losing the beneficial treatments currently on offer.
There will be one final disclosure facility launched on 1st January 2016 but there are no details available about the terms that will be available but they will not be as generous as those under the LDF.
ILS World does not offer advice in respect of the LDF but is able to introduce you to specialist advisors who have been assisting clients in this area for the last few years.
For further information please contact us.