Information exchange and child tax credit SIs laid

Our regular update of tax and customs-related developments in secondary legislation, now expanded to cover relevant non-Brexit SIs too.

SIs laid in the last two weeks

International Tax Compliance (Amendment) Regulations 2019

Procedure - Made negative. Made date – 23 April 2019. Laid date - 24 April 2019. Objection period ends - 3 June 2019. Coming into force date - 16 May 2019. Territorial application: UK-wide.

Purpose of the instrument – The policy objective, of which this instrument is part, is to increase cooperation between tax administrations in the fight against tax fraud and evasion.  This instrument amends the International Tax Compliance Regulations 2015 (S.I. 2015/878) (“principal Regulations”), which came into force on 15 April 2015 and require financial institutions in the UK to report information on certain non-resident account holders to HMRC for exchange under international arrangements. This instrument brings into scope international exchange arrangements equivalent to those included in the principal Regulations which the UK has entered into since May 2018, such as those entered into with Antigua and Barbuda. (More in the Explanatory Note.)

Child Benefit and Child Tax Credit (Amendment) (EU Exit) Regulations 2019

Procedure - Made negative. Made date - 11 April 2019. Laid date - 16 April 2019. Objection period ends - 1 June 2019. Coming into force date - 7 May 2019. Territorial application: UK-wide.

Purpose of the instrument - This instrument makes amendments to Child Benefit and Child Tax Credits regulations, to clarify that the existing rules on access to Child Benefit and Child Tax Credit remain in place for EEA (European Economic Area) and Swiss nationals and for Zambrano carers (non-United Kingdom, non-EEA citizen primary carers of a British citizen child, or adult dependant) who are granted limited leave to enter or remain under the EU Settlement Scheme (the EUSS). The EUSS is the new immigration scheme for EEA and Swiss nationals in the UK (United Kingdom) when the UK leaves the EU (European Union).

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