Liechtenstein tax evasion crackdown gets underway

UK taxpayers with accounts in Liechtenstein will receive letters instructing them to settle their UK tax obligations or face having their accounts closed.

HMRC is to send letters to thousands of UK taxpayers with accounts in Liechtenstein. Taxpayers who have undeclared income in Liechtenstein based accounts are required to demonstrate they have complied with UK tax law, do not have a UK tax liability or to make a disclosure under the Liechtenstein Disclosure Facility (LDF).