UK: Automatic exchange of information, for charities | KPMG | US

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).


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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

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