The UK and Isle of Man Treasuries are joining forces to tackle tax avoidance scheme promoters and enhance cooperation.

The UK’s HM Treasury has announced a collaborative initiative with the Isle of Man Treasury to target and dismantle the operations of tax avoidance scheme promoters on 27 May 2025.

The Exchequer Secretary to the Treasury and the Isle of Man Treasury Minister agree to joint working to crack down on promoters of tax avoidance schemes.

Following the meeting, they issued this joint statement:

The UK and the Isle of Man have a long-standing history of collaboration in the fight against tax avoidance and evasion, and in our successful cooperative efforts to promote transparency while ensuring that our tax systems are robust and fair.

The UK and the Isle of Man were amongst the early adopters of the Common Reporting Standard, which facilitates the automatic exchange of financial account information between jurisdictions, and are both working on the Crypto-Asset Reporting Framework, which will see the automatic exchange of information on crypto-assets. Both jurisdictions have also recently implemented measures in relation to the Global Base Erosion Rules under the OECD’s Pillar Two Global Minimum Tax.

Both governments are committed to taking robust action to deter and disrupt the activities of those who seek to promote marketed tax avoidance schemes that threaten our tax systems and the reputations of our well-established and globally attractive service sectors. This proactive stance safeguards tax revenues and ensures fairness for all taxpayers.

Recognising the need to go further, and noting the UK Government’s ongoing consultation on steps to crack down on promoters of marketed tax avoidance schemes, we are pleased that we have been able to agree today to explore ways to further enhance information flows, joint working and other ways in which tangible benefits for both jurisdictions can be achieved.