Search Legislation

Advanced Search

The International Tax Compliance Regulations 2015

Changes to legislation:

There are currently no known outstanding effects for the The International Tax Compliance Regulations 2015. Help about Changes to Legislation

Close

Changes to Legislation

Revised legislation carried on this site may not be fully up to date. At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial team. Please see ‘Frequently Asked Questions’ for details regarding the timescales for which new effects are identified and recorded on this site.

  1. Introductory Text

  2. Introductory

    1. 1.Citation, commencement, effect and interpretation

    2. 2.Meaning of “reportable account”

  3. Obligations in relation to financial accounts

    1. 3.Due diligence requirements

    2. 4.Modification of due diligence requirements: the DAC and the CRS

    3. 5.Modifications of due diligence requirements: FATCA agreement

    4. 6.Reporting obligation

    5. 7.Electronic return system

    6. 8.Modifications of reporting requirements: FATCA

    7. 9.Additional due diligence and reporting obligations in relation to payments to a non-participating financial institution: FATCA

    8. 10.Notification to individual reportable persons

    9. 11.Non-resident reporting financial institution's UK representative

    10. 12.Use of service providers

  4. Client notification obligations

    1. 12A.Interpretation of regulations 12A to 12F

    2. 12B.Identifying specified clients: specified financial institution

    3. 12C.Identifying specified clients: specified relevant person

    4. 12D.Client exchange of tax information notifications

    5. 12E.Client exchange of tax information notifications: overseas persons

    6. 12F.Making client exchange of tax information client notifications

    7. 12G.Provision of information

  5. Penalties for breach of obligations

    1. 12H.Liable persons

    2. 13.Penalties for failure to comply with Regulations

    3. 14.Daily default penalty

    4. 15.Penalties for inaccurate information

    5. 16.FATCA agreement penalty: non-participating financial institutions

    6. 17.Matters to be disregarded in relation to liability to penalties

    7. 18.Assessment of penalties

    8. 19.Right to appeal against penalty

    9. 20.Procedure on appeal against penalty

    10. 21.Increased daily default penalty

    11. 22.Enforcement of penalties

  6. Supplementary

    1. 23.Anti-avoidance

    2. 24.Definitions

    3. 25.Revocation

  7. Signature

    1. SCHEDULE 1

      Participating jurisdictions

      1. . . . . . . . . . ....

    2. SCHEDULE 2

      Excluded accounts

      1. For the purposes of the DAC and the CRS the...

      2. 1.Certain Retirement Accounts or Products

      3. 2.Non-registered pension arrangements where the annual contributions are limited to...

      4. 3.Immediate needs annuities within section 725 ITTOIA 2005 .

      5. 4.Certain Tax-favoured Accounts and Products

      6. 5.A child trust fund within the meaning of the Child...

      7. 6.Premium Bonds issued by the UK National Savings and Investments....

      8. 7.Children's Bonds issued by the UK National Savings and Investments....

      9. 8.Fixed Interest Savings Certificates issued by UK National Savings and...

      10. 9.Index Linked Savings Certificates issued by UK National Savings and...

      11. 10.Tax Exempt Savings Plans issued by a friendly society within...

      12. 11.A share incentive plan approved by HMRC under Schedule 2...

      13. 12.A SAYE option scheme approved by HMRC under Schedule 3...

      14. 13.A CSOP scheme approved by HMRC under Schedule 4 to...

      15. 14.. . . . . . . . . ....

      16. 15.(1) A dormant account (other than an annuity contract) with...

    3. SCHEDULE3

      1. PART1

        1. 1.The form of a client exchange of tax information notification...

      2. PART2

        1. 2.The statement in this paragraph is— “Financial institutions in more...

        2. 3.The statement in this paragraph is— “From 2016, HM Revenue...

  9. Explanatory Note

Back to top

Options/Help

Print Options

Close

Legislation is available in different versions:

Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.

Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.

Close

Opening Options

Different options to open legislation in order to view more content on screen at once

Close

Explanatory Memorandum

Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Statutory Instrument accessible to readers who are not legally qualified and accompany any Statutory Instrument or Draft Statutory Instrument laid before Parliament from June 2004 onwards.

Close

More Resources

Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • correction slips
  • links to related legislation and further information resources
Close

Timeline of Changes

This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.

Close

More Resources

Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as made version that was used for the print copy
  • correction slips

Click 'View More' or select 'More Resources' tab for additional information including:

  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • links to related legislation and further information resources

The data on this page is available in the alternative data formats listed: