Like Guernsey, its near neighbour, Jersey has concluded a FATCA type Agreement with the UK in a further bid to combat tax evasion.
The Jersey Agreement, similar to the FATCA Agreements by both parties with the USA, encompasses a special reporting arrangement for individuals who are resident but not domiciled in the UK, an exchange of information agreement and a disclosure facility.
Like other Disclosure Facilities, this enables UK resident taxpayers to regularise their affairs to report previously undisclosed accounts and income.
Contact us if you have any concerns regarding accounts you currently hold in Jersey.
