Everyone should read Richard Murphy!
Signed today – and slipped out on HMRC’s web site without a press release (I wonder why?) is a double tax agreement (yes, I mean that – a DTA, not a Tax Information Exchange Agreement) with the Cayman islands.
The real question is – who asked for the downgrade on this point – the UK or Cayman? The former will have at least as many problems as the latter in complying. Either way this is a massive embarrassment to the UK – and no way for Gordon Brown to pursue his campaign on tax havens.