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Disclosure, disclosure and more disclosure!

Fiduciary Wealth Team

In case you hadn’t realised disclosure is now the norm when it comes to holding financial assets. The last twelve months has seen so many initiatives to tackle tax evasion that there is no longer any hiding place to secretly hold assets. Interestingly UK, France, Italy and Spain have been at the forefront of these initiatives and there is increasing cooperation between these jurisdictions when it comes to reporting and exchanging information. So if you think that offshore company that you have where payments are sent to the Channel Islands and then transmitted into your Spanish bank account will go unnoticed please think again! This isn’t going to remain secret for very much longer.