According to an update from UK HMRC, the exchange of letters amending the tax information exchange agreement with Gibraltar entered into force on 30 June 2014. The exchange of letters, signed 21 November 2013, include the addition of Article 5A (Automatic Exchange of Information) and Article 5B (Spontaneous Exchange of Information). The new articles have effect for information exchanged on or after the date of entry into force without regard to the taxable period to which the information relates.