The Liechtenstein Disclosure Facility remains available to all those who have offshore assets along with assets in Liechtenstein – individuals can acquire such an asset now and still qualify for this generous settlement scheme.
Individuals are increasingly aware that no tax haven is a safe place. In the current world economic climate with the total disclosure on account of terrorism etc, countries are sharing more and more information on investors and individuals of conspicuous means. There is a mutual exchange of information which is widespread and the relevant authorities can obtain data at incredible short notice. We are aware that HMRC are slowly working through offshore information and data and if you or your relatives have an offshore asset not yet disclosed you should seriously consider taking advantage of the current disclosure arrangements before it is too late – the cost of being caught is expensive financially and socially with lengthy prison sentences almost inevitable. The arrangements restrict offshore tax to between 10% and 20% rather than 75% with a guarantee of no prosecution for tax evasion. From 1999 to 2009 there is only a 10% penalty. We have expert accountants on hand to assist our specialist lawyers in resolving the most complex tax affairs and a proven track record.