Paragraph 1 Provision of data to HMRC on an ongoing basis

United Kingdom

(1)

The Treasury may by regulations make provision requiring a relevant data-holder to provide to HMRC on an ongoing basis any data specified for that type of relevant data-holder.

(2)

Regulations under this paragraph may make provision requiring data to be provided—

(a)

in relation to specified recurring periods;

(b)

at specified times or within specified periods;

(c)

in a specified form and manner.

(3)

The power in this paragraph is exercisable only to assist with the efficient and effective discharge of HMRC's tax functions—

(a)

whether a particular function or more generally, and

(b)

whether involving a particular taxpayer or taxpayers generally.

(4)

Regulations under this paragraph may not require a relevant data-holder to provide data for the purpose of HMRC checking the relevant data-holder’s own tax position.

(5)

Sub-paragraph (4) does not—

(a)

prevent regulations from requiring a relevant data-holder to provide data about a matter mentioned in paragraph 14(3)(a) of Schedule 23 to FA 2011 (beneficial ownership of certain payments etc), or

(b)

limit the use that may be made of data obtained under this Schedule (see section 17(1) of CRCA 2005).

(6)

In this Schedule “relevant data-holder” has the same meaning as in Schedule 23 to FA 2011 (data-gathering powers) (see Part 2 of that Schedule).