Automatic Exchange of Information Handbook
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Automatic Exchange of Information Handbook

Automatic Exchange of Information Handbook


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About the Book

Table of Contents:
1 How we got here – A quick look at the recent history of Automatic Exchange 2 The UK and Automatic Exchange today, including the impact of Brexit 3 An overview of FATCA and CRS 4 What is a reporting financial institution under FATCA/CRS? Why is it important? 5 What is a financial account? Why is that important? 6 How are different kinds of entities and persons affected by FATCA/CRS? 7 FATCA/CRS – Advising, assisting, looking after and dealing with clients 8 FATCA/CRS – What might happen to us, if we didn't comply? 9 FATCA/CRS – Due diligence requirements under the UK's regulations 10 FATCA/CRS due diligence of individual accounts 11 FATCA/CRS due diligence of entity accounts (including NFEs and NFFEs) 12 Making a report under the UK's FATCA/CRS regulations 13 EU DAC 6 – the EU Mandatory Disclosure regime 14 EU DAC 6 – Who must report? 15 EU DAC 6 – What must be reported, when and how? 16 EU DAC 6 – Other obligations 17 EU DAC 6 – The hallmarks 18 EU DAC 6 – Penalties for non-compliance 19 Other forms of exchange under EU DAC 20 HMRC's legal framework for exchange Appendix I – List of countries with a FATCA agreement with the USA Appendix II – OECD Common Reporting Standard ('CRS') participant countries Appendix III – Flowchart 1 – Is this a financial institution? Appendix IV – Flowchart 2 – Is this a UK reporting financial institution? Appendix V – Flowchart 3 – What FATCA and CRS due diligence must a reporting financial institution carry out? Appendix VI – Flowchart 4 – FATCA and CRS due diligence in relation to new individual accounts Appendix VII – Flowchart 5 – FATCA and CRS due diligence for a reporting financial institution in relation to new entity accounts Appendix VIII – Flowchart 6 – Must a UK reporting financial institution treat this as a CRS or FATCA reportable account? Appendix IX – Flowchart 7 – Must a DAC 6 return be made?

About the Author :
John Hiddleston is a Tax Consultant at Azets. He has held senior roles in the tax technical departments of Top 20 accountancy firms – having been Head of Tax Technical at Vantis and, before that, National Director of Tax Technical at Howarth Clark Whitehall (Crowe UK). In a career spanning several decades, John has also done an unusually wide variety of practical tax work, having worked for independent tax consultancies and, even longer ago, as in-house Tax Manager at a multinational corporate.


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Product Details
  • ISBN-13: 9781526516534
  • Publisher: Bloomsbury Publishing PLC
  • Binding: Digital (delivered electronically)
  • No of Pages: 400
  • ISBN-10: 1526516535
  • Publisher Date: 19 Mar 2021
  • Language: English


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