The regulations implementing the CRS and FATCA in the UK (the AEOI Regulations (Automatic Exchange of Information)) have been substantially amended, bringing in a mandatory requirement to register for all financial institutions, regardless of whether they have any returns to make. We anticipate this will enable HMRC to contact
Significant updates to CRS and FATCA reporting regime in the UK
The changes are of importance to all financial institutions, especially e-money institutions and firms previously not registered for AEOI reporting with HMRC.