UK want full bank details in new
offshore tax treaty
|Although the UK does not have a Fatca equivalent and it is not clear what the implications would be for non-compliance, the UK wants the same details from Jersey|
The JEP understands that everything from the names and addresses of UK residents with bank deposits in Jersey to their account numbers, dates of birth and details of balances, dividends and interest paid and earned could be handed over to the UK taxman under their proposals.
Since news broke last month that the UK was threatening to block a major inter-governmental tax sharing agreement between Jersey and the US unless it got a similar deal, Island officials have remained tight-lipped about the negotiations, saying that they need more information about what the UK wants.
However, the UK Treasury has confirmed to the JEP that the agreement it is currently seeking with Jersey would be modelled on one the UK signed with the US in September.