News
Four more tax information exchange agreements
Posted on: 19 January 2010
The UK has entered into new tax information exchange agreements (TIEAs) with Antigua and Barbuda, St Christopher and Nevis, St Lucia and St Vincent and the Grenadines. In each case the agreement will come into force after both countries have completed their Parliamentary procedures.
These TIEAs are part of a series of agreements which the UK has concluded in recent years. They cover all taxes, and are intended to help counter and prevent tax evasion and avoidance. Any information relating to the assessment and collection of tax can be requested and exchanged, including:
- Information held by banks and other financial institution
- Information on the ownership of companies, partnerships, trusts, foundations and other persons, including information on all persons in an ownership chain and, in the case of trusts, information on settlors, trustees, and beneficiaries.
Advisers can expect HMRC to use these agreements to pursue future enquiries into offshore structures to a greater extent than they could in the past.
Please contact Paul Bramall to discuss any tax information exchange agreement.
