The Savings Directive legislation1 implemented a scheme to collect information about residents of certain other countries who receive savings income.
EU Member States, Aruba, British Virgin Islands, Gibraltar, Guernsey, the Isle of Man, Jersey, Montserrat and Netherlands Antilles2 became prescribed territories and as such, information relating to their residents needs to be reported under these regulations.
Returns must be made by both 'paying agents' and 'receiving agents'.
A paying agent is a person established in the United Kingdom who makes payments of 'savings income' in the course of his business or profession for the immediate benefit of residents
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Web page updated on 17 Mar 2025 16:53