INTM700700 | International movements of capital: Exclusions from the reporting requirement

FA09/SCH 17/Para 9: exclusions from the reporting requirement

FA09/SCH 17/Para 9 sets out the circumstances in which otherwise reportable transactions are excluded from the reporting requirement. These cover transactions

• Carried out in the ordinary course of a trade

• Between residents in the same territory, or

• The giving of any security by a foreign subsidiary to a financial institution.

HMRC is also empowered to add to these exclusions in regulations. This power has been exercised and the additions are described in the guidance beginning at INTM700710.