Treasury written question – answered at on 31 July 2018.
Under longstanding powers HMRC can require banks and building societies to provide data on interest paid to, or collected on behalf of, their customers, without the customer’s permission or judicial approval.
With the approval of the taxpayer or the First Tier Tribunal, HMRC can require additional information from banks about a specific taxpayer that is reasonably required to check the taxpayer’s tax position. These data and information gathering powers, some of which have been in continual use since their introduction at the end of the eighteenth century, are regularly reviewed.
Yes1 person thinks so
No1 person thinks not
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