'UK signs tax deal with France, Germany, Italy and Spain' (From The Telegraph)
'George Osborne has a signed an information exchange agreement with the finance ministers of France, Germany, Italy and Spain in the latest effort to crack down on tax evasion. Under the agreement, banks in the G5 will be forced to reveal financial details ofC which will then be handed on to the tax domicile to be checked for evasion.
The agreement, which is described as a “pilot” scheme, is based on the America’s Foreign Account Tax Compliance Act (FATCA) which has been used to capture US tax evaders abroad since 2010...'
( "foreign clients " I would suspect include those who are Tax Resident in other countries ! )
So, who said, 'My UK bank will never reveal info about my account ? '
It was a poster on the Thread about declaring assets, who argued that he would not reveal the info required, as his bank would never reveal his info. Seems he may have been wrong, but he is still in time to declare if he changes his mind:- Deadline 30 April.
PS I am still surprised how many people I know who have still not heard of the requirement