Reports: Tough plan to lock down UK tax havens

Tough proposals to force the UK's tax havens to reveal the names of people hidden behind trusts, companies and account holders have been drawn up by the Treasury, according to reports.

The Observer said a leaked document revealed the UK plans to impose its own version of the US Foreign Account Tax Compliance Act (Fatca) on Jersey, Guernsey and the Isle of Man, as well as its overseas territories, such as the Cayman Islands.

The draft UK equivalent would require British tax havens to report on UK account holders to UK tax authorities.

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