In a previous post dated 8 April 2014, we described certain registration and compliance requirements for hedge funds and hedge fund managers under the US Foreign Account Tax Compliance Act (“FATCA”).
On 22 April 2014, HM Revenue & Customs (“HMRC”), the UK tax authority, issued a supplementary update to its guidance on the position of UK investment advisers and investment managers under FATCA. This updated guidance clarifies that UK investment managers will generally not be required to register with the US Internal Revenue Service (“IRS”) and obtain a Global Intermediary Identification Number (“GIIN”) for purposes of FATCA.
Click here for more information on the supplementary update.