A person wishing to obtain HMRC approval to become an account provider must fall within the 'qualifying circumstances' set out in the regulations1. These include the making of an application in a prescribed form and the giving of detailed undertakings as to the management of accounts. Further regulatory requirements must also be met. The terms of HMRC's approval may include conditions designed to ensure that the provisions of the regulations are satisfied.
Certain account providers must appoint a tax representative to discharge duties under the regulations2. This applies where the account provider is a foreign institution3 and either has no branch or business establishment within the UK, or does not intend
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