The Liechtenstein Disclosure Facility will be extended by a year to 5 April 2016, HMRC announced. More than 2,000 disclosures have been made so far.
‘As the number of disclosures already exceeds the total we originally expected for the whole period of the LDF, we have agreed with the Liechtenstein Government that it makes sense to extend the facility,’ said Dave Hartnett, Permanent Secretary for Tax.
PKF welcomed the move, noting that the LDF had got off to a slow start. ‘It was only after the Swiss deal was announced last year, and individuals could make an informed decision about the best way forward, that the LDF gained traction,’ said PKF Partner John Cassidy.
The UK’s agreement with the principality was ‘consolidated’ with the initialling of a double taxation agreement’ on 7 February. PKF said the establishment of the DTA was ‘always envisaged’.
The Liechtenstein Disclosure Facility will be extended by a year to 5 April 2016, HMRC announced. More than 2,000 disclosures have been made so far.
‘As the number of disclosures already exceeds the total we originally expected for the whole period of the LDF, we have agreed with the Liechtenstein Government that it makes sense to extend the facility,’ said Dave Hartnett, Permanent Secretary for Tax.
PKF welcomed the move, noting that the LDF had got off to a slow start. ‘It was only after the Swiss deal was announced last year, and individuals could make an informed decision about the best way forward, that the LDF gained traction,’ said PKF Partner John Cassidy.
The UK’s agreement with the principality was ‘consolidated’ with the initialling of a double taxation agreement’ on 7 February. PKF said the establishment of the DTA was ‘always envisaged’.
