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Where individuals are only tax resident in the UK, their financial account information
is not shared with any foreign authority. Under the Common Reporting Standard (CRS)
information on UK financial accounts held by tax residents of Hong Kong is shared
with the tax authority of Hong Kong for taxation purposes. Any financial institution
or account holder can apply to HMRC to have CRS information redacted if they consider
that their human rights are at risk. The Government has reminded financial institutions
about the process and information for individual account holders available on GOV.UK
has recently been updated and made more prominent.
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