126 Financial institution notices
Finance Act 2021 (2021 c 26) | Legislation

HMRC powers

126  Financial institution notices

(1)     Schedule 36 to FA 2008 (information and inspection powers) is amended as follows.

(2)     After paragraph 4 insert—

“Power to obtain information and documents from financial institutions
4A

(1)     An officer of Revenue and Customs may by notice in writing require a financial institution—

(a)     to provide information, or

(b)     to produce a document,

if conditions A and B are met.

(2)     Condition A is that the information or document is, in the reasonable opinion of the officer giving the notice, of a kind that it would not be onerous for the institution to provide or produce.

(3)     Condition B is that the information or document is reasonably required by the officer—

(a)     for the purpose of checking the tax position of another person whose identity is known to the officer (“the taxpayer”), or

(b)     for the purpose of collecting a tax debt of the taxpayer.

(4)

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