To date all other UK island territories have committed to the new tax rules, which are based on the exchange of information between tax authorities, according to the FT.
Brown told a meeting of finance ministers in Italy that Guernsey, Jersey and the Isle of Man would apply the withholding tax regime in use in Austria Belgium and Luxembourg, while the British Virgin Islands, Turks and Caicos Islands and Montserrat have all indicated they will comply.
The Cayman Islands have not come forward with any proposal and Brown said he would legislate if necessary: ‘It would probably be through a Treasury order – secondary legislation,’ the Treasury said.
HMRC has won its tenth successive case against tax avoidance schemes promoted by NT Advisors. The Court of Appeal has ruled that NT ... read more
HMRC is continuing to ramp up the number of raids on premises it carries out as part of criminal investigations, searching 761 properties in the last year
Five million taxpayers are ow using digital personal tax accounts (PTA) as part of the making tax digital strategy, HMRC said
Since the release of HMRC’s plans for digital tax reforms, many have agreed with the call for a delay