Taxation: USA

(asked on 19th July 2017) - View Source

Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, what assessment his Department has made on the potential effect of complying with the requirements of the US Foreign Account Tax Compliance Act additional to those already placed on them through the UK compliance system on UK-based (a) non-life insurers, (b) brokers and intermediaries and (c) consumers.


Answered by
Mel Stride Portrait
Mel Stride
Secretary of State for Work and Pensions
This question was answered on 11th September 2017

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.

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