A leaked document has revealed that Britain plans to impose its own version of the US Foreign Account Tax Compliance Act (FATCA) on its overseas territories, such as the Cayman Islands, as well as the crown dependencies of Jersey, Guernsey and the Isle of Man.
FATCA, which will come into force next year, requires foreign banks to report American account holders to the US Internal Revenue Service.
The draft UK equivalent, seen by the magazine International Tax Review, will require
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