Gibraltar has given in in a row over providing information about savings.
It has reached an agreement with the UK to close a loophole which would have allowed it to avoid disclosing banking information, saying it didn’t have to provide information to the UK as it’s essentially the same state.
Both the Isle of Man and the Channel Islands warned the UK that they would take unilateral action and stop supplying information unless the 'Gibraltar loophole' was sealed.
On 1 July last year, when the directive came into force, Gibraltar and the UK said discussions were taking place about a withholding tax and information exchanges..
A 22-page agreement between Gibraltar and the UK has been officially published by the British Government.
Researching your Manx family history can be a very interesting and rewarding hobby. Trace your roots in the Isle of Man with our helpful of guide.
