FATCA Registrations Delay: Important Update
HM Revenue & Customs (HMRC) has advised that some individuals are experiencing difficulties in validating Foreign Accounts Tax Compliance Act (FATCA) registrations, in advance of the 31 May 2015 deadline for reports.
The advice from HMRC is that you should continue to file your FATCA return as soon as possible and it will not seek to apply a late FATCA filing penalty while these online delays continue.
HMRC has further advised that its published guidance is being updated to include a specific reference to these delays being considered a reasonable excuse to avoid penalties for late filing.
FATCA is US legislation aimed at reducing tax evasion by their citizens. It requires financial institutions outside the US to pass information about their US customers to the US tax authorities, the Internal Revenue Service (IRS).
Jennifer Carpenter became Managing Partner of the firm in January 2014. She was appointed as a Partner in January 2005, having qualified as a solicitor in 2000 after completing her training with the firm. She specialises in Employment, property dispute litigation and contentious probate. She has extensive experience of undertaking advocacy in the Magistrates Court, County Court and Employment Tribunals. Jennifer is also our Compliance Officer for Finance and Administration (COFA) and our Data Protection Officer.
