Better use of new and improved third-party data to make it easier to pay tax right first time
9 April, 2025
HMRC have launched a consultation on improving the quality and range of data they receive from third parties. Two main data sources are in scope:
- Financial account information – including bank and building society interest (BBSI) and other interest.
- Card sales – data shared by providers of card acquiring services, such as merchant acquirers.
HMRC are also testing their early thinking regarding collecting new data from financial institutions on dividend income and other income from investments.
The consultation closes on 21 May 2025. The ATT will be responding to the consultation and comments and feedback would be welcome to to [email protected] by 30 April 2025.