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Partner Provides Commentary to ‘Tax Journal’ on Financial Institution Notices
Jul 26, 2021Partner Kate Ison provided comment to Tax Journal, first published 15 July, on financial institution notices (FIN) which will enable HM Revenue & Customs (HMRC) to formally require a financial institution to provide banking information, including bank statements, transaction information and KYC information, about specific taxpayers. Ison said, “The new rules are concerning, given the absence of effective safeguards for taxpayers and the likely increased compliance burden for financial institution recipients.”
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