The US Foreign Account Tax Compliance Act (FATCA), the Crown Dependencies and Overseas Territories (CDOT) rules and the Common Reporting Standard (CRS) are now in force.
These require funds and, potentially, other entities within a fund structure, to obtain certain information about their investors.
Representations
The BVCA has been monitoring developments in the area of agreements on exchange of information with a view to tackling tax evasion since introduction of FATCA. We have been working with HMRC on the implementation of these agreements and further detail on specific matters are covered in the Technical Bulletins in the links below.