Updated Guidance for Crown Dependencies / Overseas Territories Reporting
The UK has published draft guidance to support the International Tax Compliance (UK, Isle of Man, Guernsey, Jersey and Gibraltar) Regulations 2014.
Readers are reminded that these regulations follow on from the signing in 2013 of intergovernmental agreements with the aforementioned territories. Each of the agreements is reciprocal meaning that UK Financial Institutions will have to provide data on financial accounts held by residents of these territories.