Consultation outcome

Tackling the hidden economy: extension of data-gathering powers to money service businesses

• From: HM Revenue & Customs
• Published: 26 August 2016
• Last updated: 5 December 2016 — See all updates

This consultation has concluded

Read the full outcome

Tackling the hidden economy: extension of data-gathering powers to money service businesses - summary of responses

PDF, 387 KB, 14 pages

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Detail of outcome

This document summarises responses to the consultation over summer 2016 on extending HMRC’s data gathering powers to Money Service Businesses.

It provides a summary of the government response and the proposed next steps in this process.

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Original consultation

Summary

A consultation on extending HMRC’s powers to obtain additional data from money service businesses, to help tackle the hidden economy.

This consultation ran from
9:30am on 26 August 2016 to 11:45pm on 21 October 2016

Consultation description

This consultation is about a proposal to extend HMRC’s bulk data-gathering powers to include customer data held by money service businesses (MSBs). This data will help HMRC to identify non-compliant customers trading in the hidden economy.

The consultation invites views on the proposal and options for implementation, to ensure that it addresses the exploitation of MSBs by non-compliant customers to hide undeclared income, and minimises the compliance burdens on MSBs.

Documents

Tackling the hidden economy: extension of data-gathering powers to money service businesses

PDF, 391 KB, 26 pages

This file may not be suitable for users of assistive technology.

Request an accessible format.

If you use assistive technology (such as a screen reader) and need a version of this document in a more accessible format, please email [email protected]. Please tell us what format you need. It will help us if you say what assistive technology you use.

Published 26 August 2016
Last updated 5 December 2016 + show all updates

1. 5 December 2016

   Published summary of responses.

2. 26 August 2016

   First published.