Corporation Tax Act 2010 section 31

Power to obtain information

Section 31 gives HMRC officers the authority to require companies to provide information about their shareholders and bearer securities for the purposes of determining close company status.

• An HMRC officer can issue a notice requiring a company to provide the names and addresses of anyone it believes to be a participator, or to have a material interest in the company
• The company must also supply information about any rights held by those persons in respect of the company
• Where a company has issued bearer securities, HMRC can require details about persons who hold, receive income from, or are entitled to income from those securities
• The information-gathering power covers both the identity of relevant persons and the nature and extent of their interests or rights in the company