UK:
UK FATCA | Crown Dependencies And Gibraltar: Draft FATCA
12 February 2014
Deloitte
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On 3 February 2014, HMRC released selected draft guidance notes
covering the obligations for UK Financial Institutions under the
International Tax Compliance (Crown Dependencies and Gibraltar)
Regulations 2014 ("UK FATCA").
These guidance notes are designed to aid UK Financial
Institutions in understanding their obligations under UK FATCA,
including the requirement to report on certain individuals and
entities resident in the Crown Dependencies and Gibraltar on a
periodic basis.
These guidance notes are designed to be read in conjunction with
guidance notes for the Implementation of US FATCA released in
August 2013. As such, these notes primarily detail the differences
in the new reporting obligations that will be faced by UK Financial
Institutions under UK FATCA.
The HMRC webpage on International agreements to improve tax
compliance can be found here and the draft guidance notes can be
accessed here.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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