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Tax | Financial institutions poorly prepared for automatic information exchange

Financial institutions are reporting a number of challenges over compliance with new OECD requirements related to the automatic exchange of information (AEOI) on client bank accounts in foreign jurisdictions, exacerbated by problems complying with the US Foreign Account Tax Compliance Act (FATCA) requirements, according to Aberdeen Group

Tax | Agents critical of HMRC’s efficiency

Just 17% of agents believe HMRC to be an efficient organisation which does not waste money, while over half gave HMRC a negative rating for efficiency in the department’s own customer survey, which has also revealed there are a number of areas of agent interaction which need improvement
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