HMRC has the power to gain relevant information from taxpayers in order to check that they are paying the correct amount of income tax, Capital Gains Tax, Corporation Tax and VAT.

This information is often held by third parties. If HMRC want to see it, they can issue a ‘third party notice’.

Banks and financial institutions are third parties, as well as accountants, estate agents and lawyers.

HMRC are not permitted to issue a third party notice without the taxpayer’s approval. In addition, HMRC need to prove that the information is ‘reasonably required’.

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