New agreements with Liechtenstein

  • HMRC have signed an agreement with Liechtenstein under which the UK and Liechtenstein will exchange information to ensure that income is appropriately taxed.
  • A tax disclosure programme will allow run from 1 September 2009 to 31 March 2015. It applies to those who have accounts in Liechtenstein open on 1 August 2009.
  • All Liechtenstein financial intermediaries will have to review clients identifying those who need to confirm their position to HMRC and advise them to do so within a specific time frame. 
  • If the investor fails to confirm that he is cooperating with HMRC, his account will be closed down.
  • Liechtenstein will introduce new laws to ensure audit of the process.
  • Recovery will be restricted to 10 years up to 5 April 2009.
  • The penalty on unpaid tax will be limited to 10% in most cases.
  • The taxpayer can elect to apply a special Composite Rate of 40% to cover all taxes without the benefit of any relief or deduction.
  • If agents are asked to facilitate disclosures on behalf of clients, they should contact Special Investigations (SI) on 0845 600 4687.  This will be available from 1 September. 
  • If there are urgent issues to be clarified before then, contact Linda Atkinson at SI on 0151 300 2741.

Liechtenstein Disclosure Facility - HMRC advice line:

HMRC has set up a telephone helpdesk to provide help and advice on the LDF. You can contact the helpdesk on 0845 600 4680.

Lines are open from 8.30 am to 5.00 pm (GMT), Monday to Friday.

Alternatively you can write to HMRC at the following address:

HM Revenue & Customs
Liechtenstein Team
7th Floor
The Triad
Stanley Road
L75 2EE