ARTICLE · 08 JUNE 2021

Tax Bites - June 2021

Reynolds Porter Chamberlain

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Welcome to the latest edition of RPC's Tax Bites - providing monthly bite-sized updates from the tax world.

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Constantine Christofi

Welcome to the latest edition of RPC's Tax Bites - providing monthly bite-sized updates from the tax world.

As always, if there are any areas you would like more information on (or if you have any questions or feedback), please let us know or get in touch with your usual RPC contact.

News

Further extension to UK Common Reporting Standard compliance rules

Regulations have been made to extend the International Tax Compliance Regulations 2015 (SI 2015/878) (the Compliance Regulations). The Compliance Regulations, among other things, require UK financial institutions to report information regarding certain non-UK account holders to HMRC for exchange under international arrangements relating to the Common Reporting Standard (CRS). The Compliance Regulations had applied to arrangements relating to the CRS entered into as at 19 April 2020. The extension regulations (which came into force on 14 May 2021) extend this date to 20 April 2021.

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