The government of Jersey is planning to sign a tax information exchange agreement with the UK government today which will supersede existing information exchange agreements between the two jurisdictions - a move which comes as as a number of international governments move to crackdown on so-called tax havens.

“This is a natural conclusion to our active programme of signing TIEAs with both OECD and non-OECD nations and provides yet further evidence that Jersey is a well regulated, cooperative jurisdiction,” said a spokesperson for Jersey Finance, the official body which represents and promote the island as an international finance centre.

European leaders agreed at a summit last month to push for a crackdown on uncooperative tax havens ahead of an international meeting in London on 2 April, where the issue is likely to be dwelt upon.

Attention so far has focused on Liechtenstein or the Caribbean islands but, for UK citizens, many tax havens are much closer to home. The UK's offshore industry holds about $1 trillion of client assets in funds, bank deposits, and other financial constructions, according to New York consultancy Oliver Wyman.

Jersey is the UK's largest offshore centre, ahead of Guernsey and the Isle of Man. Bank deposits on the island were £206 billion ($290 billion) at the end of 2008, compared with £157 billion in Guernsey, while funds under administration were £241.2 billion, compared with £200 billion in Guernsey.

US pressure on tax havens is also building. Lawmakers estimate tax havens around the world deprive Washington of $100 billion a year, and the authorities are increasingly tough on the issue.

In February, UBS agreed to pay a fine of $780 million and disclose the identity of some clients after US investigators accused it of helping wealthy Americans dodge taxes. President Barack Obama has said he suspects the Cayman Islands, America's principal offshore centre, of housing tax evaders.