Reynolds Porter Chamberlain
UK:
The Common Reporting Standard: An HMRC Game Changer?
07 April 2021
Reynolds Porter Chamberlain
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With now over 100 countries signed up to the international
information exchange known as the Common Reporting Standard (CRS),
last year HMRC received 84 million details of bank accounts
covering one in 10 UK citizens.
As CRS data is increasingly used by HRMC to identify who should
be targeted for investigation and "nudge letters", it is
vital that individuals and businesses understand what information
is being collected and what HRMC are doing with it.
In this episode Dawn Register, Head of Tax Dispute Resolution
at BDO, joins us to explain exactly what the CRS is and discuss its
increasing importance for those UK residents with financial
accounts and investments overseas.
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