23.08After signing a tax sharing agreement with the US, Jersey is now in communication with the UK to approve measures with regard to the assets UK residents hold in Jersey. It has been proposed by the Jersey government to inform UK clients about their duty to declare the income of their companies registered in Jersey to tax authorities in the UK. Jersey officials have stated that they do not wish or need to accommodate individuals who engage in the business of tax evasion. The officials also encouraged UK individuals to register their assets in Jersey before the proposal takes place in order to avoid hefty fines by the UK government as the exchange of information between the two governments will be automated. If you find the above measures will affect your current financial situation, please contact us to find alternative options.