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The International Tax Compliance (Crown Dependencies and Gibraltar) Regulations 2014

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19.—(1) In these Regulations—

“Annex 1” means Annex 1 of the relevant agreement,

“the Commissioners” means the Commissioners for her Majesty’s Revenue and Customs,

“Global Intermediary Identification Number” means a number allocated to a Financial Institution by the Internal Revenue Service in the United States of America for the purposes of the part of the law of that territory commonly known as the Foreign Account Tax Compliance Act, and

“the tribunal” means the first tier Tribunal or, where determined by or under Tribunal Procedure Rules, the Upper Tribunal.

(2) In these Regulations references to a person’s relevant tax status are to whether or not that person is—

(a)in relation to the Isle of Man agreement, a specified Isle of Man person,

(b)in relation to the Guernsey agreement, a specified Guernsey person,

(c)in relation to the Jersey agreement, a specified Jersey person, and

(d)in relation to the Gibraltar agreement, a specified Gibraltar person.

(3) In these Regulations references to a value in dollars are references to a value in the currency of the United States of America.

(4) The following table lists the places where expressions that apply for the purposes of these Regulations are defined or otherwise explained—

ExpressionReference
account holderregulation 2(4) and sub-paragraph 1(dd) of Article 1 of the relevant agreement
Active NFFEregulation 2(4) and paragraph VI.B (6) of Annex 1
Annex 1regulation 19(1)
annuity contractregulation 2(4) and sub-paragraph 1(w) of Article 1 of the relevant agreement
the Commissionersregulation 19(1)
cash value insurance contractregulation 2(4) and sub-paragraph 1(x) of Article 1 of the relevant agreement
controlling personregulation 2(4) and sub-paragraph 1(ll) of Article 1 of the relevant agreement
custodial accountregulation 2(4) and sub-paragraph 1(t) of Article 1 of the relevant agreement
custodial institutionregulation 3(7)
depository accountregulation 2(4) and sub-paragraph 1(s) of Article 1 of the relevant agreement
depository institutionregulation 3(3)
entity accountregulation 4(4)(a)
financial accountregulation 2(4) and sub-paragraph 1(r) of Article 1 of the relevant agreement
financial institutionregulation 2(4) and sub-paragraph 1(g) of Article 1 of the relevant agreement
the Gibraltar agreementregulation 2(2)
Global Intermediary Identification Numberregulation 19(1)
the Guernsey agreementregulation 2(2)
HMRCsection 222(4) FA 2013(1)
individual accountregulation 4(4)(b)
insurance contractregulation 2(4) and sub-paragraph 1(v) of Article 1 of the relevant agreement
investment entityregulation 3(4)
the Isle of Man agreementregulation 2(2)
the Jersey agreementregulation 2(2)
new entity accountregulation 2(4) and paragraph V of Annex 1
new individual accountregulation 2(4) and paragraph III of Annex 1
non-reporting financial institutionregulation 2(4) and sub-paragraph 1(q) of Article 1 of the relevant agreement
passive NFFEregulation 2(4) and sub-paragraph VI.B.5 of Annex 1 of the relevant agreement
preexisting accountregulation 2(4) and sub-paragraph 1(z) of Article 1 of the relevant agreement
preexisting entity accountregulation 2(4) and paragraph IV of Annex 1
preexisting individual accountregulation 2(4) and paragraph II of Annex 1
related entityregulation 2(4) and sub-paragraph 1(kk) of Article 1 of the relevant agreement
the relevant agreementregulation 2(3)
relevant tax statusregulation 19(2)
relevant total gross creditsregulation 8(5)
reportable accountregulation 4
reporting dateregulations 8(3) and 9(3)
reporting financial institutionregulation 3
specified Gibraltar personregulation 2(4) and sub-paragraph 1(gg) of Article 1 of the Gibraltar agreement
specified Guernsey personregulation 2(4) and sub-paragraph 1(gg) of Article 1 of the Guernsey agreement
specified insurance companyregulation 2(4) and sub-paragraph 1(k) of Article 1 of the relevant agreement
specified Isle of Man personregulation 2(4) and sub-paragraph 1(gg) of Article 1 of the Isle of Man agreement
specified Jersey personregulation 2(4) and sub-paragraph 1(gg) of Article 1 of the Jersey agreement
specified personregulation 2(4) and sub-paragraph 1(ee) of Article 1 of the relevant agreement
the tribunalregulation 19(1)
United Kingdom financial institutionregulation 2(4) and sub-paragraph 1(l) of Article 1 of the relevant agreement

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