22 July 2016 
Amanda Darley, Head of Operations and Engagement
For anyone who missed the article in the Summer Tax Newsletter, this is a reminder that the new rules on the common reporting standard/automatic exchange of information are already in force and could affect some universities. HMRC has asked us to remind universities that they should not assume they are not affected and should review this, and to let you know that further detailed guidance for charities will follow. Our previous article in the Summer Tax Newsletter contains more information and links to HMRC's current guidance for charities, as well as useful articles from Withers LLP and the Charity Tax Group. In particular, universities or colleges (such as Oxford and Cambridge colleges) with high investment income could be affected. The Charity Tax Group website now includes slides from a presentation given by HMRC on 29 June about how the Common Reporting Standard could affect charities.
