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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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