A Tax Information Exchange Agreement and an Arrangement amending the 1955 Double Taxation Arrangement between the United Kingdom and the Isle of Man, signed in Douglas on 29 September 2008 entered into force on 2 April 2009.
Tax information exchange arrangements allow governments to enforce their domestic tax laws by exchanging, on request, information relevant to a tax matter covered by the arrangements. The text of this information exchange agreement broadly follows the OECD Model Agreement on Exchange of Information on Tax Matters.
The provisions of the Agreement will take effect in the United Kingdom and the Isle of Man from 2 April 2009. The provisions of the Arrangement will take effect in the Isle of Man from 6 April 2009 and will take effect in the UK from 1 April 2010 for the purposes of Corporation Tax, and from 6 April 2009 for Income Tax purposes.
Full details of the information exchange agreement are available here