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Taxation: USA

Question for HM Treasury

UIN 6119, tabled on 19 July 2017

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 on

11 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.

Answered by

Treasury