Apr 22, 2013 @ 15:55pm

Guernsey and United Kingdom – automatic exchange of tax information

Guernsey’s government will shortly be entering into agreement with the UK government which will result in the automatic exchange of tax information.  The UK is offering its residents a concessionary penalty regime if tax payers with irregularities declare untaxed assets in advance.  Guernsey is not offering any regime, but it should be noted that a voluntary disclosure to correct incomplete information will always be viewed more favourably and will not attract the same level of penalty.

Irrespective of your residency status, if you think you may have undisclosed income in the UK or in Guernsey, I would be happy to work with you to make the necessary declarations and correct the position.

April 22, 2013