Prologue – All non-U.S. “Entities are subject to the FATCA inquisition” …
US #FATCA probes UK PTA account seeking disclosure of #Americansabroad + signs of "USness" https://t.co/CTP4z7hFNQ pic.twitter.com/YpgCaZa361
— Citizenship Lawyer (@ExpatriationLaw) December 11, 2015
How the U.K. IGA affects the U.K. PTA …
The online discussion referenced in the above tweet is about a U.K. PTA account. How can FATCA, (like the recent passport revocation bill which is one of the many “Revenue Offshore Provisions” used to target Americans abroad), included to finance the costs of the 2010 HIRE Act, possibly intrude into a U.K. PTA? To be clear, a U.K. PTA is similar to a U.S. PTA. Full details on a UK PTA are here. The information (maybe U.S. Treasury doesn’t believe it) is that a U.K. PTA is a charity and is described as:
A PTA is an excellent way to bring together parents, teachers and your local community to raise money and to support the school. It provides an opportunity for everyone to work together towards a common goal. All parents, teachers and school staff can get involved even if they only have a small amount of time available. Whatever type of association you decide to form, your school will benefit from the additional funds it will raise and the increased opportunity for parents to be more involved in school life.