The government has signed agreements to automatically share tax information with Guernsey and Jersey as part of an effort to stop people hiding money offshore.
The new agreements mean that all the Crown Dependencies have now entered into automatic tax information exchange agreements with the UK, with the Isle of Man having signed on 10 October 2013.
As highlighted by Paul Eaves in his blog, the net is closing in on taxpayers trying to evade tax overseas, but for those wanting to come forward, beneficial disclosure regimes are still in operation.
All parties are committed to compliance with international standards of “transparency and exchange of information for tax purposes” and are supportive of improving tax compliance, according to the agreement.
The government said...
About Nick Huber
I’m a specialist business journalist and have a particular interest in tax and technology.