Revenue & Customs has so far collected just £13.9m from an initiative to prise open secret bank accounts in the Crown Dependencies which was originally expected to end up raising £1bn. Just over 400 people have so far come forward to own up to previously undeclared accounts in the Isle of Man, Jersey and Guernsey, […]

The latest version of the Crown Dependency Guidance Notes to FATCA, which was released on 28 July 2014, has provided further changes to, and clarifications of, the obligations of Jersey Financial Institutions in respect of FATCA. http://bit.ly/1uLfYf4 As the States of Jersey has entered into two intergovernmental agreements (“IGAs”), one with the US, and the […]

The Governments of the Crown Dependencies have today issued draft FATCA guidance as part of a consultation process. Comments are invited on the draft guidance document by 14 March 2014. It is expected that final FATCA guidance to be issued shortly thereafter. The guidance notes are the same across Jersey, Guernsey and the Isle of […]