Guidance

Automatic Exchange of Information: introduction

Find out about Automatic Exchange of Information and what it means.

Overview

Automatic Exchange of Information agreements are made between the UK and other countries. These agreements allow the exchange of information between tax authorities of different countries about financial accounts and investments to help stop tax evasion.

List of countries who have agreed to share information.

Financial institutions, for example, banks, building societies, insurance companies, investment companies, will provide information on non-UK residents with financial accounts and investments in the UK to HM Revenue & Customs (HMRC).

HMRC will share this information with the relevant countries.

Information for financial institutions.

HMRC will receive information from other countries about UK residents with financial accounts and investments overseas.

The UK has Automatic Exchange of Information agreements under 4 regimes.

United States Foreign Account Tax Compliance Act (FATCA)

The agreement between the UK and USA requires UK financial institutions to report to HMRC on US customers that hold accounts with them.

Crown Dependencies and Overseas Territories

The agreement between the UK and its Crown Dependencies and UK Overseas Territories to report on those who are tax residents in one territory and hold accounts in the other.

Common Reporting Standard

The standard for all automatic exchange of financial information.

Directive on Administrative Co-operation

The Directive which applies the Common Reporting Standards throughout the European Union.

Further information and guidance

All references to Automatic Exchange of Information include United States Foreign Account Tax Compliance (FATCA), Crown Dependencies and Overseas Territories and the Common Reporting Standard.

Details about all Automatic Exchange of Information agreements.

Information for account holders.

Published 29 April 2016