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ARTICLE · 05 DECEMBER 2025

New UK Common Reporting Standard Rules: Registration Imminent

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New UK Common Reporting Standard (CRS) rules will introduce mandatory HM Revenue & Customs (HMRC) registration requirements for UK investment managers and other financial institutions next month.

United StatesTax
Charlotte Sallabank
Charlotte Sallabank
Daniel Lewin
Daniel Lewin
James Wells
James Wells
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New UK Common Reporting Standard (CRS) rules will introduce mandatory HM Revenue & Customs (HMRC) registration requirements for UK investment managers and other financial institutions next month.

The International Tax Compliance (Amendment) Regulations 2025(the 2025 regulations) require that all UK investment managers must register with HMRC by December 31, even if they have no reportable "financial accounts".

Although the change will increase HMRC oversight, it is important to note that it will not add any annual reporting where there are no reportable accounts. A new penalty framework has also been designed that will apply for failure to comply, including failure to register and any other compliance breaches. The 2025 regulations will also adopt selected optional CRS clarifications and extend certain due diligence timelines.

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