The common reporting standard and charities: do you have filing requirements with HMRC?
Whilst FATCA specifically excluded most charitable entities from reporting, the CRS does not and charities may be affected by the CRS in one of two ways. Some charities will themselves need to make reports to HMRC (most commonly on the beneficiaries to whom they make grants but also on other interests in some circumstances) whilst others will be required to self-certify their status to third parties such as banks and investment managers.
The deadline for the first filing of information with HMRC under the CRS is 31 May 2017. This note looks briefly at the CRS rules and what your reporting requirements might be.