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Written questions and answers - Written questions, answers ...
Answered on. 26 July 2021. HMRC have assessed that their FATCA guidance is GDPR compliant. It is proportionate to report a joint account under FATCA because a US citizen or resident is an account holder. The name and other details of any joint account holder who is not a US citizen or resident are not reportable.
https://questions-statements.parliament.uk/written-questions/detail/2021-07-20/36666
Illegalise financial institutions' discrimination against ...
petition
Illegalise financial institutions' discrimination against US-born UK residents. Investigate the impact of the US acts of FATCA and FBAR on US-born UK residents. More details. FATCA and FBAR are detrimental to US-born UK residents and the government should work to protect all its citizens regardless of their origin countries.
https://petition.parliament.uk/petitions/554690
Written questions and answers - Written questions, answers ...
The government recognises that FATCA is a particular concern for those who were unaware of the obligations associated with their US citizenship. However, to clarify, FATCA does not create new accidental Americans. Rather, FATCA created a mechanism for the financial accounts of overseas US citizens to be reported to the US.
https://questions-statements.parliament.uk/written-questions/detail/2018-12-10/200664
Written questions and answers - Written questions, answers ...
An assessment of the administrative and financial impact on UK industry of the implementation of the US Foreign Account Tax Compliance Act (FATCA) in the UK, including compliance costs, was published alongside The International Tax Compliance (United States of America) Regulations 2013 which gave effect to FATCA.
https://questions-statements.parliament.uk/written-questions/detail/2017-07-19/6044
Written questions and answers - Written questions, answers ...
An assessment of the administrative and financial impact on UK industry of the implementation of the US Foreign Account Tax Compliance Act (FATCA) in the UK, including compliance costs, was published alongside The International Tax Compliance (United States of America) Regulations 2013 which gave effect to FATCA.
https://questions-statements.parliament.uk/written-questions/detail/2017-07-19/6119
Written questions and answers - Written questions, answers ...
In 2013 the UK introduced regulations to support the exchange of information, in line with a UK-US intergovernmental agreement regarding the US Foreign Account Tax Compliance Act (FATCA). Before introducing these regulations, the government carried out an impact assessment in line with the usual tax policy making process.
https://questions-statements.parliament.uk/written-questions/detail/2019-01-08/206440
Finance Bill (17th May 2013)
13-14 Session Commons publication
FATCA repeal legislation in the U.S. Senate, no U.S. "reciprocity" Date: May 7, 2013 (6:10 PM, Eastern Daylight Time) The Honorable Members of the Public Committee: Please excuse the informality of this communication and the fact that I am writing to you collectively rather than individually. However, the matter under discussion is quite time-sensitive. Specifically, with regard to Ref. 1 ...
https://publications.parliament.uk/pa/cm201314/cmpublic/financeno2/memo/fb03.htm
Written questions and answers - Written questions, answers ...
As part of the process of reviewing the Inter-Governmental Agreement between the UK and the US that implements FATCA in the UK, my officials have raised a wide range of issues with the US Treasury and the IRS, including the obligations placed by the US on the non-life insurance industry.
https://questions-statements.parliament.uk/written-questions/detail/2017-07-12/4634
Partnerships (clause 18 and schedule 6)
17-19 Session Commons publication pdf
Account Tax Compliance Act (FATCA) requirements. Confirm that the allocation of partnership profit shown on the partnership return is conclusive for tax purposes for all of the partners, and implement a new process for resolving partner disputes on the allocation through application to the First-tier Tax Tribunal. 2. This legislation has emerged from a consultation process that began in August ...
https://publications.parliament.uk/pa/cm201719/cmpublic/financeno2/memo/fb15.pdf
Written evidence submitted by Chartered Institute of ...
17-19 Session Commons publication pdf
HMRC now have access to a huge amount of taxpayer data through FATCA and Exchange of Information Agreements with other jurisdictions plus powerful internal data analysis systems, so the key challenge now is likely to be a data analytical one. Public and media opinion, fuelled by recent data leaks, may not have caught up with this fundamental change but that is not a good reason for policy ...
https://publications.parliament.uk/pa/cm201719/cmpublic/FinanceNo3/memo/FB02e.pdf
Child protection: Duties to report concerns - House of ...
Commons library
This House of Commons Library Briefing Paper sets out the current requirements on individuals and organisations regarding the reporting of known or suspected child abuse or neglect. It also provides information on the debate around whether a mandatory duty to report abuse or neglect should be introduced in England, and outlines the operation of such mandatory duties in other countries.
https://commonslibrary.parliament.uk/research-briefings/sn06793/
Third Report of Session 2013–14
13-14 Session Commons publication pdf
FATCA law with the revisions referred to above”; it adds that “as a result, the Agreement has not been formally amended but the Regulations (including regulation 2(3)) reflect the extent to which implementation is required, and ensure that unnecessary administrative burdens are not imposed on UK business.” 1.4 Section 222 of the Finance Act 2013, under which the Regulations are made ...
https://publications.parliament.uk/pa/cm201314/cmselect/cmstatin/304-iii/304.pdf
House of Commons - Crown Dependencies: developments since ...
13-14 Session Commons publication
These include instances where the UK has made decisions which impacted on the Islands without prior consultation (explored in more detail in chapter four); the decision by HM Treasury to disapply Low Value Consignment Relief; the refusal of HMG to allow the Crown Dependencies to sign up to the US Foreign Account Tax Compliance Act (FATCA) unless they concluded a similar agreement with the UK ...
https://publications.parliament.uk/pa/cm201314/cmselect/cmjust/726/72605.htm
2013 No. ** TAXES - data.parliament.uk
deposited papers
America to improve international tax compliance and to implement FATCA, as that agreement has effect from time to time. (3) That agreement as signed on 12 September 2012 is set out in the Schedule to these Regulations. (4) In these Regulations “FATCA” means the provisions commonly known as the Foreign Account Tax Compliance Act in the enactment of the United States of America called the ...
http://data.parliament.uk/DepositedPapers/Files/DEP2013-0988/Clause_219_-_Draft_SI.PDF
EXPLANATORY MEMORANDUM TO THE AGREEMENT BETWEEN THE ...
deposited papers pdf
implement the US reporting regime commonly referred to as FATCA. This is to provide an effective means to tackle offshore tax evasion while minimising costs both for governments and business. This agreement is non-reciprocal in nature. The UK will therefore not be requesting data from UK financial institutions under the terms of this agreement. However, under the agreement Anguilla undertakes ...
http://data.parliament.uk/DepositedPapers/Files/DEP2014-0016/20140107_EM_for_Anguilla_IGA.pdf
House of Commons - Tax in Developing Countries: Increasing ...
12-13 Session Commons publication
The EU Savings Directive is currently the closest equivalent to FATCA in the EU: if any EU resident holds an account in a member state other than his / her country of residence, there is a requirement for the tax authorities of his / her country of residence to be notified of any interest paid on this account. (Austria and Luxembourg are currently exempt from this obligation for a ...
https://publications.parliament.uk/pa/cm201213/cmselect/cmintdev/130/13006.htm
EXPLANATORY MEMORANDUM TO THE AGREEMENT BETWEEN THE ...
deposited papers pdf
implement the US reporting regime commonly referred to as FATCA. This is to provide an effective means to tackle offshore tax evasion while minimising costs both for governments and business. This agreement is non-reciprocal in nature. The UK will therefore not be requesting data from UK financial institutions under the terms of this agreement. However, under the agreement the British Virgin ...
http://data.parliament.uk/DepositedPapers/Files/DEP2013-1914/20131129_EM_for_British_Virgin_Islands_IGA.pdf
HM Revenue and Customs - Monday 3 December 2012 - Hansard ...
03-12-12 Hansard
A groundbreaking agreement with the US—the UK/US agreement to improve international tax compliance and to implement the Foreign Account Tax Compliance Act (FATCA)—will significantly increase the amount of information automatically exchanged between the two countries. The agreement sets a new standard in international tax transparency and will further enhance HMRC’s ability to tackle ...
https://hansard.parliament.uk/Commons/2012-12-03/debates/1212035000010/HMRevenueAndCustoms
Taxation: Evasion and Avoidance - Hansard - UK Parliament
06-06-13 Hansard
The UK is one of the countries that are co-operating with FATCA. It was designed primarily to combat offshore tax evasion and to recoup federal tax revenues. I would like to know whether we could have a UK version of this, because transparency—the kind of exposure that comes with FATCA—can be a very important basis for trying to challenge both tax avoidance and tax evasion. Finally, I will ...
https://hansard.parliament.uk/Lords/2013-06-06/debates/13060650000795/TaxationEvasionAndAvoidance
House of Commons - International Development Committee ...
12-13 Session Commons publication
The United States has enacted the Foreign Account Tax Compliance Act (FATCA) which requires foreign registered banks to automatically share information about US citizens operating offshore accounts. The advantage that the European Union model holds over alternative systems of tax information exchange lies with the exchange happening on a multilateral and automatic basis. A resident of country ...
https://publications.parliament.uk/pa/cm201213/cmselect/cmintdev/130/130we17.htm
About 68 results (page 0 of 4)