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HMRC have launched new services to support individuals wishing to declare unpaid taxes earned from offshore accounts and investments.
Both the New Disclosure Opportunity (NDO) Lichtenstein Disclosure Facility (LDF) will launch on the 1st of next month. A podcast is now available on the Revenue website, with the department’s permanent secretary for tax, Dave Hartnett, explaining the basics of the NDO.
There is now a telephone helpline from which taxpayers can learn more about the LDF: 0845 600 4680 (or +44 151 300 2750 from outside the United Kingdom). It is open from 8.30am to 5pm (BST), Monday to Friday.
Details of the terms of the disclosure scheme – a memorandum of understanding between the governments of the UK and Lichtenstein – are available on the taxman's website.
Alternatively, holders of offshore accounts, or their agents, can mail their queries to you can write to HMRC,
Liechtenstein Team
, 7th floor
, The Triad
, Stanley Road
, Bootle
, Merseyside
L75 2EE.
The Chartered Institute of Taxation has also uploaded a podcast covering the NDO and LDF. It features the organisation's tax policy director, John Whiting, discussing the matters with Gary Ashford, chairman of the CIOT's management of taxes sub-committee.
