Under FATCA, non-US financial institutions (which include banks, stockbrokers and investment funds) are given a choice. Either they become FATCA-compliant, which involves registering with the IRS and reporting on US account-holders, or they risk being subject to a 30 per cent. withholding tax on certain payments with, or attributable to, a US source or connection. […]
Read More‘UK FATCA’ – the disclosure to HMRC of information about reportable accounts held by UK taxpayers in the Crown Dependencies and Overseas Territories [ This guide was updated in October 2013]
Financial institutions in Jersey, Guernsey and the Isle of Man (the Crown Dependencies) will soon be obliged to automatically provide information to the tax authorities relating to the financial affairs of UK resident clients in respect of 2014 onwards. This is sometimes referred to as ‘UK FATCA’, as it is based on the US’s FATCA […]
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