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WMA: US could make examples of UK firms as Fatca looms

by Elsa Buchanan on Mar 26, 2014 at 13:39

Under the intergovernmental rule, non-compliance will include a 30% withholding on income and gross proceeds.

The UK and US Intergovernmental Agreement effectively starts on 1 July this year, and the first reports to HMRC under the agreement are due by 31 May 2015.

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