answer text |
<p>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.</p><p> </p><p>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.</p>
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