A three month extension of the notification deadline to 31 March 2012 has been given, along with further adjustments aimed at streamlining the Liechenstein Disclosure Facility (LDF).
The deadline extension is one of several 'improvements' to the Memorandum of Understanding (MOU) between HMRC and the Liechtenstein Government. Essentially, this MoU forms the basis of a tax agreement - the Liechenstein Disclosure Facility (LDF) - which presents UK taxpayers with the opportunity to disclose any assets based in the principality which up until now have not been declared. As at 30 September 2011, 1721 taxpayers have come forward. The three month extension of the notification deadline to 31 March 2012 has been granted because HMRC and Liechtenstein both recognise the complex...
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