On January 8, 2026, the United Kingdom HM Revenue & Customs (UK HMRC) updated the list of reportable jurisdictions in its International Exchange of Information Manual. The changes since the 2025 reporting year are that Cameroon and Tunisia have been added to the list. Reportable Jurisdictions The following is the complete HMRC list of Reportable Jurisdictions under the Common Reporting Standard (CRS) for the 2026 reporting year with respect to Y2025 reportable accounts: Alban

On December 4, 2025, the United Kingdom HMRC published an update to the International Exchange of Information Manual “Reportable Information: Joint Accounts”. Commencing with reporting on Y2026 data to be submitted in 2027, Financial Institutions (FIs) must identify if Reportable Accounts are joint accounts. If yes, then the number of joint account holders must be reported. Additionally, if a new joint account holder is added to a pre-existing account, the FI is required to u

On November 6 & 7, 2025, the United Kingdom HMRC announced updates to the International Exchange of Information Manual due to: CRS 2.0, updates to registration and reporting, updates to FATF, changes in AEOI schema. The following sections were updated: Investment Entity: Trusts Timetable: CRS Reporting Financial Institution: Electronic Money Institutions Custodial Institution: Introduction Investment Entity: Charities Investment Entity: Examples Investment Entity: Introductio

On September 26, 2025, the United Kingdom’s HMRC updated its International Exchange of Information Manual to include a new section on Mandatory Registration. This new requirement is for Reporting Financial Institutions (FIs) and Trustee-Documented Trusts. Who & When? All Reporting FIs and Trustee-Documented Trusts must register by the later of December 31, 2025 or January 31 following the calendar year in which the entity first falls within the definition of Reporting FI or T

On August 5, 2025, the United Kingdom tax authority HMRC published an update to the International Exchange of Information Manual related to penalties. Circumstances When a Penalty Will Not Apply: Reasonable Care In an instance where a penalty would be owed for reporting inaccurate or incomplete information, no penalty will be due if the person took reasonable care. HMRC defines reasonable care as follows: “Where an inaccuracy in a document or an incomplete report has been mad

Guernsey On January 4, 2024, the Guernsey Revenue Service published a bulletin (2024/01) with a revised list of CRS Reportable and Participating Jurisdictions for the Y2023 reporting period. Guernsey removed 10 jurisdictions from its previously published Y2023 list of CRS Participating Jurisdictions. The deadline for submitting Y2023 CRS reporting in the Guernsey IGOR portal is June 30, 2024. For Y2024 Reportable Jurisdictions (deadline June 30, 2025), Guernsey has provisiona

On May 2, 2023, the United Kingdom HM Revenue & Customs (UK HMRC) announced changes to its list of Common Reporting Standard (CRS) Reportable Jurisdictions. UK HMRC has removed the following jurisdictions: Kenya Moldova Uganda Moldova and Uganda had only been recently added to the Y2022 reporting list in January 2023. Given the UK has announced these changes with only four weeks until the May 31, 2023 reporting deadline, the UK HMRC stated if a financial institution (FI) is u

On January 5, 2023, the United Kingdom HM Revenue & Customs (UK HMRC) updated the list of reportable jurisdictions in its International Exchange of Information Manual. The changes since the 2022 reporting year are that Moldova, Montenegro, Thailand and Uganda have been added to the list and Morocco has been removed from the International Exchange of Information Manual list. The following is the complete HMRC list of Reportable Jurisdictions under the Common Reporting Standard

The United Kingdom’s tax authority (HMRC) issued an update today regarding the deadline for CRS and FATCA Y2019 reporting. The normal annual deadline for both FATCA and CRS is May 31. HMRC did not change this deadline but expressed its understanding that financial institutions may not be able to file timely because of the pandemic. Accordingly, HMRC stated: “any financial institution that files a return late because of Covid 19 difficulties will have a reasonable excuse (and

As we enter the final months of Y2016, it is a good time to review some aspects of the UK FATCA/CDOT and CRS transition. The transition from CDOT to CRS began as of January 1, 2016 with the first report due to local tax authorities on March 31, 2017 (Turks & Caicos). As a reminder, the following jurisdictions participate in CDOT: • Anguilla • Bermuda • British Virgin Islands • Cayman Islands • Gibraltar • Guernsey • Isle of Man • Jersey • Montserra

Pursuant to local CRS and FATCA implementation, certain jurisdictions such as the United Kingdom require that Reporting Financial Institutions notify each individual Reportable Person or individual Specified U.S. person about government to government data sharing. Specifically, the client must be notified that information relating to that person which is required to be reported under FATCA and CRS will be reported to the local tax authority and may be transferred to the gove