HMRC’s five traps to avoid with CRS/FATCA reporting

HMRC has identified the most common errors made by financial institutions (FIs) when filing their Automatic Exchange of Information (AEOI) returns, which include Common Reporting Standard (CRS) and Foreign Account Tax Compliance Act (FATCA) reportable information. 1. The FI misunderstands what constitutes an undocumented account FIs are wrongly reporting accounts as ‘undocumented’ on the basis… Read More HMRC’s five traps to avoid with CRS/FATCA reporting