UK tax on offshore banks 'purely speculative'

clock

Recent reports suggesting the UK Government is considering implementing an offshore bank account tax is 'purely speculative,' according to Jersey Finance.

Rumours of the tax as part of a deposit protection scheme which could impact on Jersey 'have no basis in fact,' says Geoff Cook, chief executive. He says Jersey's financial industry has no knowledge of the UK government's rumoured plans and is not in discussions about such a move. Furthermore, Jersey has 'no intention to pursue such a course of action,' he adds. "These misinformed reports suggest that such a move would be in relation to the UK Treasury's recently announced review of the Crown Dependencies and Overseas Territories," says Cook. Jersey Finance has previously welcomed th...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Offshore Investment

New awards will celebrate excellence in Channel Islands financial services

Entries now open - deadline for submissions 8 June 2016

Professional Adviser
clock 17 March 2016 • 1 min read

Who won at the International Fund & Product Awards 2015?

Canada Life International, Schroders, and Old Mutual International among winners

Professional Adviser
clock 08 October 2015 •

Revealed: Winners of the 2015 Fund Services Awards

Firms offering services to asset managers honored at gala dinner

Professional Adviser
clock 08 October 2015 •