HMRC Consults on Implementation of UK-US FATCA Agreement

Her Majesty's Revenue and Customs has released a consultation paper on the UK government's intended approach to implementing the commitments made in the UK-US FATCA Agreement. The agreement reflects a commitment by both governments to increase the scope of information automatically exchanged between them, and follows the Model Intergovernmental Agreement signed by the G5 and the US in July.

Comments Due: November 23, 2012. Once the consultation process is complete, draft legislation with then be published for further comment.