'Costly nightmare' for UK schemes if US cracks down on tax dodgers

clock

A US crackdown on tax-dodgers could leave British schemes with an "administrative and costly nightmare", a lawyer warns.

The US government introduced The Foreign Account Tax Compliance Act in 2010 to crack-down on the use of offshore accounts by American citizens to avoid paying tax. The Act compels ‘non-US financ...

To continue reading this article...

Join Professional Pensions

  • Unlimited access to real-time news, analysis and opinion from the industry
  • Receive our in-depth monthly magazine in either print or digital format
  • Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
  • Receive important and breaking news stories selected by the Editors in our daily newsletter
  • Hear from industry experts and other forward-thinking leaders
  • Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date

Join now

 

Already a Professional Pensions
member?

Login

More on Legislation

HMRC publishes surplus repayments order

HMRC publishes surplus repayments order

Authorised surplus payment charge to be reduced from 35% to 25% from 6 April

Jasmine Urquhart
clock 11 March 2024 • 1 min read
Industry uncertain about LTA implementation, survey says

Industry uncertain about LTA implementation, survey says

LTA removal sparks concern about implementation, member communications and scheme benefit design

Jasmine Urquhart
clock 09 February 2024 • 2 min read
AMNT backs standardised vote reporting legislation

AMNT backs standardised vote reporting legislation

AMNT backs bill amendment requiring standardised reporting to schemes

Jasmine Urquhart
clock 30 January 2024 • 2 min read
Trustpilot