In February 2013 the UK and the government of the Isle of Man agreed an automatic tax information exchange procedure and the setting up of a disclosure facility as part of the UK government's offshore anti-evasion strategy. A disclosure facility is available between 6 April 2013 and 31 December 2015 (originally 30 September 2016) for investors with Isle Man accounts to settle with HMRC any outstanding tax liabilities, and the Government of the Isle of Man will require financial intermediaries to contact relevant persons to advise them of the disclosure facility and to ensure adherence to legislation for the prevention of money-laundering1.
The disclosure facility applies to those who had a beneficial interest in 'relevant property' in the Isle of
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Web page updated on 17 Mar 2025 13:26