Executive summaryOn 1 July 2020, the United Kingdom (UK) Tax Authority, Her Majesty’s Revenue and Customs (HMRC) published the UK Mandatory Disclosure Regime (MDR) Guidance (the Guidance) publicly for the first time. The content has been added to the International Exchange of Information Manual, and can be accessed at: https://www.gov.uk/hmrc-internal-manuals/international-exchange-of-information/ieim600000.The Guidance had previously been circulated in draft to interested parties, and a previous Global Tax Alert, UK HMRC issues draft guidance on Mandatory Disclosure Regime regulations, dated 7 May 2020, provides an overview of that Guidance.As with other automatic exchange regimes, HMRC has indicated that it will continue to develop the...