UK Introduction

In August 2009 the UK tax authorities took two purposeful initiatives to increase the tax compliance of certain UK Resident and/or Non-UK Domiciled individuals by announcing two Offshore Disclosure Initiatives, namely the New Offshore Disclosure Opportunity ('NDO') and the Liechtenstein Disclosure Facility ('LDF'). These two initiaves deal with the disclosure, by UK Resident and/or Non-UK Domiciled individuals, of previously undeclared income and gains from offshore accounts or assets.

Our advice to UK Resident and/or Non-UK Domiciled clients is  to obtain immediate advice on these matters and ensure that they are in a position to be secure about their tax positions with regard to the NDO and LDF as the 4 January 2010 deadline approaches. To find out more about these facilities please read our review of the New Offshore Disclosure Opportunity and the Liechtenstein Disclosure Facility.