“As if answering to HM Revenue & Customs were not onerous enough, British investors are now having to jump through hoops for the equivalent US tax authority. The IRS is trying to tighten its grip on US citizens living in other countries who owe tax. But a consequence of its crackdown is that British investors, who owe nothing in the US, have to complete IRS documents and provide information either to the IRS itself or to a finance firm acting under IRS instructions.  From July the US’s crackdown will be felt by British investors in another way. After that anyone opening a new investment account – whether the company is US or British – will have to provide information required by the IRS.”