Automatic Exchange of Information agreements are made between the UK and other countries. These agreements allow the exchange of information between tax authorities of different countries about financial accounts and investments to help stop tax evasion.
Financial institutions, for example, banks, building societies, insurance companies, investment companies, will provide information on non-UK residents with financial accounts and investments in the UK to HMRC.
HMRC will share this information with the relevant countries and will alsol receive information from other countries about UK residents with financial accounts and investments overseas.
If you have any questions, please do not hesitate to contact us. We will advise you on the consequences of the HMRC.
