Lloyds Banking changes due to US tax laws
Jun 14th 2009, 5:01 pm
#1
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Lloyds Banking changes due to US tax laws
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This could affect a few here.
Lloyds Banking Group is ditching American customers based in Britain pending a crackdown on international tax evasion planned by President Barack Obama........
The letters also contained four comprehensive descriptions of the bank's definition of clients that are effected. These included clients that hold green cards, pay American taxes, are American domiciled or even those where there is "any indication" that a client spent more time in the US than "normal holidays currently or in the past or future."
The letters also contained four comprehensive descriptions of the bank's definition of clients that are effected. These included clients that hold green cards, pay American taxes, are American domiciled or even those where there is "any indication" that a client spent more time in the US than "normal holidays currently or in the past or future."
Last edited by cranston; Jun 14th 2009 at 5:08 pm.
Jun 14th 2009, 5:19 pm
#2
Retired
Joined: Apr 2004
Posts: 34,649
Re: Lloyds Banking changes due to US tax laws
I don't see anything that suggests a closure of plain-vanilla bank accounts, not yet anyway.
Jun 14th 2009, 6:58 pm
#3
Joined: Jan 2008
Posts: 7,605
Re: Lloyds Banking changes due to US tax laws
The first thing I noticed was that neither Louise Armitstead nor the sub appear to know the difference between "affect" and "effect".
The second thing was:
Which seems to be an admission of guilt dating back some years...
The second thing was:
The USA has a mature regulatory environment governed by its Securities and Exchange Commission. These regulations mean that we are not licensed to manage portfolios for US clients.
Jun 16th 2009, 12:35 am
#4
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Re: Lloyds Banking changes due to US tax laws
The USA has a mature regulatory environment governed by its Securities and Exchange Commission
