Specialist Small Business Accountants
A Quick Way to Lose a Financial Headache
Making Tax Digital
The Fortune Hidden in Your Business
Fundraising
Virtual Finance Director
Experienced Support Team
Chartered AccountantsHMRC has published a consultation on proposals on data sharing and publication of anonymised tax details to deliver wider public benefits while protecting taxpayer confidentiality, reports Harris & Co accountancy services.
Although there is a strict legislative framework limiting data sharing to protect individual taxpayers, HMRC believes that there are potential uses of its data which could generate public benefits without compromising taxpayer confidentiality.
HMRC is proposing wider sharing of anonymised and aggregated tax data, the release of basic non-financial VAT registration data in the public domain and the sharing of detailed VAT registration data on a restricted and controlled basis.
The move is a response to the government’s pledge to increase transparency and is designed to reinforce fraud protection measures.
This consultation invites views on proposals for HMRC to increase their scope to share information that does not relate to identifiable individuals or legal entities (‘non-identifying information’) and on proposed safeguards.
