HMRC Announces Changes To High Profile Liechtenstein Disclosure Facility (LDF) Changes Described As ‘Another Shift Of The LDF Goalposts’ 14.08.2014 David Shirt, Press Officer | 0161 838 3094 A leading tax expert at national law firm Irwin Mitchell has criticised today’s announcement by HMRC that it is to make significant changes to how its high profile Liechtenstein Disclosure Facility will operate in the future. The LDF was launched in 2009 primarily with the aim of allowing individuals with undisclosed tax liabilities and investments or assets in Liechtenstein to come forward and settle their tax liabilities on pre-defined, and very favourable, terms, compared to the normal rules. HMRC has announced today that, following a review, a number of significant changes are to be introduced. Although HMRC says that the category of people who cannot enter the LDF will not change, it does say that some of the favourable terms, which can lead to a reduction to the amount paid to HMRC, will now be restricted in certain circumstances. HMRC describes these circumstances as where no disclosure of new information has been made; cases where the issue being disclosed is already subject to an intervention that began more than three months before the LDF application; and cases where there is no substantial connection between the liabilities being disclosed and the offshore asset held by the taxpayer on 1 September 2009. Phil Berwick, Partner* and Head of Contentious Tax at law firm Irwin Mitchell, said: * Non lawyer Press contact David Shirt BLS PR Manager 0161 838 3094 Email David Tags Tax Phil Berwick London Related articles 20.02.2017Financial Conduct Authority And Prudential Regulation Authority Publish Decision Making Changes 15.02.2017Cocoon Aims To Secure £2.5m For Latest Expansion Drive 14.02.2017Serious Fraud Office - The Big Funding Debate 14.02.2017Inflation Rises As UK Feels Effect Of Weak Pound Post-Brexit Vote 10.02.2017Today's Court Of Appeal Ruling To Have Impact on Uber And Other Firms In 'The Gig Economy'