On 22 November the UK Government announced that a number of Tax Information Exchange Agreements (TIEAs) and protocols to existing agreements have been agreed, allowing the exchange of information between tax authorities in different countries.
A number of ‘tax haven’ jurisidictions are included, among them:
Anguilla
There are also arrangements under which members of HMRC could conduct investigations in Anguilla under certain circumstances.
Bahamas
In this case the agreement operates to ensure that the domestic law does not permit bank secrecy to prevent the exchange.
Gibraltar
In this case the agreement operates to ensure that the domestic law does not permit bank secrecy to prevent the exchange and means HMRC could conduct investigations in Gibraltar under certain circumstances.
Liechtenstein
Mexico
Oman
Singapore
Switzerland
Turks & Caicos Islands
In this case the agreement operates to ensure that the domestic law does not permit bank secrecy to prevent the exchange and means HMRC could conduct investigations in the Turks and Caicos islands under certain circumstances.
If you are concerned that your tax affairs may not have been dealt with properly in the past or that there may be tax disclosures to make, contact us for advice.