Your experiences of the first transmittal

In a matter of days, the Common Reporting Standard (CRS) will become a reality. That’s when financial institutions will make their first transmittal to HMRC. And will then learn if their preparations have been successful or not.
It will be an industry first and we’re keen to hear your views on how you think it’ll go. Will you take the 2-3 minutes needed to contribute to our survey?
Areas that we’re keen to hear your views on are:
  • the challenges you’ve met in preparing for CRS
  • levels of inter-departmental coordination
  • the quality of advice offered by HMRC and information provided by OECD

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* 1. Your company? (optional)

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* 2. Type of Organisation?

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* 3. Job title?

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* 4. What department do you work in?

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* 5. What percentage of transmittals to HMRC do you estimate will be incorrect, tick one?

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* 6. If you answered any % between 1 and 100% in the previous question, in your opinion, how many times do you believe that you will need to re-transmit the data before it is accepted?

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* 7. Many financial institutions are finding there are inconsistencies between the jurisdictions in terms of both quality and quantity of guidance. Do you believe this is the case for your organisation? (Tick one)

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* 8. For UK filings, how would you describe  the level of support provided by HMRC in the lead up to the first CRS deadline? (Tick one)

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* 9. How good would you rate the quality of information made available by the OECD to your organisation? (Tick one)

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* 10. In your opinion, how much support do you estimate your organisation's IT department will have provided to the Compliance department in fulfilling its CRS filing obligations? (tick one)

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* 11. In your opinion, what do you see as your organisation's five biggest challenges in the lead-up to the first filing? (Please rank in order of importance with 1 being the most important)

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* 12. Are there any others not listed here? If so, please provide details

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* 13. To your knowledge, is your organisation currently planning to centralise and automate its compliance procedures? (Tick one)

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* 14. If you ticked "yes", is this a board level initiative?

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