HM Treasury have announced that the UK Government had signed an agreement with the United States to improve international tax compliance and implement the US Foreign Account Tax Compliance Act (FATCA). This agreement will
benefit UK financial institutions by addressing their legal concerns with
complying with FATCA and reducing the burdens imposed on them. It will
also boost HMRC’s ability to obtain information from the US to help in tackling
UK tax evasion.
© Finextra Research 2017