UK: Automatic exchange of information, guidance for charities

UK: Automatic exchange of information, for charities

HM Revenue & Customs issued guidance relating to the automatic exchange of information by charities under the common reporting standard (CRS).

Related content

According to the HMRC guidance, a charity that is an “investment entity” is deemed to be a financial institution, and must report any relevant payments it makes to tax residents outside the UK. These charities are required to report information on financial accounts under:

  • The Crown Dependencies and Overseas Territories (CDOTs) agreement
  • The common reporting standard (CRS)

The CDOTs agreements were effective 1 January 2015, with first reporting due by 31 May 2016. The CRS came into effect from 1 January 2016, with first reporting due by 31 May 2017. Between 1 January 2016 and 2017, the CRS will gradually replace the CDOTs agreements. 

Accordingly, a charity must collect data on financial accounts for the calendar year to 31 December 2016 and report it to HMRC by 31 May 2017.


Read a June 2016 report [PDF 71 KB] prepared by the KPMG member firm in the UK

© 2016 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved.

The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us


Request for proposal



KPMG's new digital platform

KPMG's new digital platform