HM Revenue and Customs (HMRC) recently made a minor amendment to its Foreign Account Tax Compliance Act (FATCA) registration guidance to advise individuals of the time lag between registration and reporting. HMRC advises that a user will have wait approximately 24 hours after registering to file their report.
The guidance explains how to register for FATCA with HMRC online services and which details need to be provided in order to complete the registration.
Need more information? Read our advice on FATCA, produced in conjunction with STEP and the Institute of Chartered Accountants in England and Wales