Budget 2013: FATCA-style rules extend to Crown Dependencies
21 March 2013
The Government has announced a tax information agreement with Jersey, Guernsey, Isle of Man and the Cayman Islands.
Chris Tragheim, tax partner at Deloitte, said:
“This move is hugely significant because it widens the FATCA-style rules to the Channel Islands, Isle of Man, Cayman Islands and other Overseas Territories. It follows the US FATCA requirements and means, in essence, that UK persons with accounts in these countries will have their assets and balances reported to HMRC. It’s another step in the drive towards global exchange of information.”
Notes to editors
In this press release references to Deloitte are references to Deloitte LLP, which is among the country's leading professional services firms.
Deloitte LLP is the United Kingdom member firm of Deloitte Touche Tohmatsu Limited (“DTTL”), a UK private company limited by guarantee, whose member firms are legally separate and independent entities.
Please see www.deloitte.co.uk/about for a detailed description of the legal structure of DTTL and its member firms.
The information contained in this press release is correct at the time of going to press.
Member of Deloitte Touche Tohmatsu Limited