3
accounts so that these terms are defined by referen ce to the date that those accounts ceased to be 
excluded accounts. Regulation 2(3) and (4)(a) make consequential amendments. 
Regulation 3 makes a transitional provision for the  calendar year 2020 in relation to accounts 
which were previously excluded accounts. 
A Tax Information and Impact Note covering the International Tax Compliance Regulations 2015 
was published on 18th March 2015 and is available o n the HMRC website at 
https://www.gov.uk/government/publications/tax-administration-regulations-to-implement-the-
uks-automatic-exchange-of-information-agreements. I t remains an accurate summary of the 
impacts that apply to this instrument. 
  
  
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