The UK has an ongoing programme of Tax Information Exchange Agreement (TIEA) and Double Taxation Convention negotiations with other countries that have committed to implement the international tax standard of transparency and exchange of information for tax purposes. In the last year or so the following countries have entered into TIEAs with the UK: Bermuda, the Isle of Man; the British Virgin Islands; Jersey; Guernsey. In the year to 31 March 2010 HMRC plans to develop new DTCs with: Australia, Austria, Belgium, the British Virgin Islands, the Cayman Islands, Croatia, Ethiopia, Germany, Hungary, Israel, Luxembourg, New Zealand, Oman, Qatar, Spain, Switzerland, Thailand and new TIEAs with Anguilla, Gibraltar and the Turks & Caicos Islands. The taxman will use these facilities to get infomation to either risk assess individuals or to use in an ongoing Tax Enquiry.
If you are concerned about an offshore bank account or offshore assets, or have any historic tax liabilities that are worrying you, or think the New Disclosure Opportunity may benefit you: then Lynam Tax Enquiry Experts can help. Call today for a confidential, discreet discussion with our experienced Tax Dispute Specialists.
Call Paul Lynam now on 0845 643 9997