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AS2013: HMRC to improve systems to cope with information exchanges

Accountancy Age

HM REVENUE & CUSTOMS is to upgrade its offshore evasion strategy, in order to cope with data it receives from overseas territories and Crown dependencies signed up to tax information exchange deals. The government has struck a string of automatic information exchange deals with a number of overseas territories and crown dependencies including the Cayman Islands, the Isle of Man, Jersey and Guernsey. On the current timetable, UK residents with assets…

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