The world is getting smaller and modern money laundering regulations mean it is difficult to use hidden money. Further, more and more light is being cast on previously popular hiding places.
Currently, there are special schemes available to allow money hidden from the Tax Authorities in the past to be “cleaned up”, with streamlined procedures and reduced penalties. Prompt action now could save much more serious consequences later. We have experience in helping clients choose the most appropriate route for disclosure and guidance in dealing with HMRC on their behalf – providing comfort, support and the smoothest possible outcome.
For general information on how we can help
Liechtenstein Disclosure Facility (LDF)
The Liechtenstein Disclosure Facility or LDF can be available on worldwide assets and provides a guaranteed 10% penalty with a reduced reporting period.
The UK - Swiss Tax Treaty
From April 2013 there will be withholding tax levied to Swiss income and gains, in addition to a one off charge.
Tax planning now, before this takes effect may be beneficial.
