Volltext: The future importance of tax compliant clients

LDF and Swiss-UK Tax Agreement 
Annex C: Notification letter 
[client's name] 
[person address] [insert date] 
Dear [client's name] 
Formal Notification Letter in accordance with the Memorandum of Understanding between the 
UK Tax Authority, HM Revenue & Customs, and the Government of Liechtenstein 
with regard to: [insert name and number, etc, of bank account / entity / fiduciary structure, etc] 
("the Relevant Property") 
As you may already be aware from the press, HM Revenue & Customs in the UK ("HMRC") and the 
Government of Liechtenstein signed a Memorandum of Understanding ("MoU") on 11 August 2009 
relating to co-operation in tax matters and a voluntary disclosure facility known as the "Liechtenstein 
Disclosure Facility" ("LDF") for persons who have assets, income or gains overseas that may have 
given rise to a tax liability in the UK. 
In summary, the terms of the MoU require Liechtenstein Financial Intermediaries (such as banks and 
trustees) to identify persons: 
e. who have a "beneficial interest" in relevant property in Liechtenstein; and 
e who, on 1 August 2009 or at any time thereafter, the Financial Intermediary knows has 
had a residential address in the UK or has been resident for tax purposes in the UK; or 
who has been identified in Liechtenstein anti-money laundering documentation as having 
a UK address. 
Such persons may fall within the definition of "relevant persons” in the MoU. 
Once a relevant person has been identified, the Financial Intermediary is required by law to notify 
them of the various options that are available to them under the MoU. Please note that these require- 


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