Taxation: USA

Treasury written question – answered on 18th December 2018.

Alert me about debates like this

Photo of Preet Kaur Gill Preet Kaur Gill Shadow Minister (International Development)

To ask the Chancellor of the Exchequer, what discussions he has had with his counterpart in the US Department of the Treasury on creation of accidental Americans through the US Foreign Account Tax Compliance Act.

Photo of Mel Stride Mel Stride Financial Secretary to the Treasury and Paymaster General

The government has engaged with the US Treasury and the IRS on a number of occasions regarding the US Foreign Account Tax Compliance Act (FATCA). The government recognises that FATCA is a particular concern for those who were unaware of the obligations associated with their US citizenship.

However, to clarify, FATCA does not create new accidental Americans. Rather, FATCA created a mechanism for the financial accounts of overseas US citizens to be reported to the US.

Does this answer the above question?

Yes0 people think so

No0 people think not

Would you like to ask a question like this yourself? Use our Freedom of Information site.