UK: Changes to FATCA and CRS reporting schemas
Current combined schema will be discontinued after December 31, 2026.
HM Revenue and Customs (HMRC) has announced that the current combined common reporting standard (CRS) and FATCA schema will be discontinued after December 31, 2026. Effective January 1, 2027, UK financial institutions will be required to use new schemas for all XML submissions to HMRC, including submissions for prior calendar years.
The CRS reporting will utilize the amended CRS XML schema published by the Organisation for Economic Cooperation and Development (OECD) in October 2024, while FATCA reporting will use the FATCA XML schema published by the Internal Revenue Service (IRS) in January 2017.
Financial institutions have the option to submit their returns to HMRC via the UK Government Gateway Portal or manually enter information using HMRC’s form-based reporting system for a small number of reportable accounts.
Read a September 2025 report prepared by the KPMG member firm in the UK