Tax can be a challenging and ever-evolving minefield of information.
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Hot on the heels of an announcement from HMRC that the closure date for the Liechtenstein Disclosure Facility (LDF) has been extended to 5 April 2016 has come speculation that the local banks are pushing for much higher transfers of funds into Liechtenstein and a minimum period for which any account must be kept open.
Many leave the provision of life assurance and pensions to their employers, although unfortunately they do not consider whether, in the event of a claim, the benefits provided would be sufficient to allow a reasonably comfortable lifestyle to be maintained.
The value of the lifetime allowance is to be reduced from £1.8 million to £1.5 million in April 2012.
The UK has one of the highest tax burdens for both low and high earners of any major economy, reveals new research by UHY, the international accounting and consultancy network.
