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HMRC internal manual

International Exchange of Information Manual

Notification requirement: Meaning of offshore advice or services: Summary

Notification requirement: Meaning of offshore advice or services: Summary

This guidance relates to the obligation on Specified Financial Institutions and Specified Relevant Persons to send out a notification to their clients about certain tax matters.  This page explains what would constitute ‘offshore advice or services’, which is a key term in determining whether you are a Specified Relevant Person.

Background

The definition of offshore advice or services is in regulation 12A(4) of the International Tax Compliance Regulations 2015, as amended by the International Tax Compliance (Customer Notification) Regulations 2016.

The definition is relevant in establishing whether a Relevant Person is a Specified Relevant Person.