Income Tax Act 2007 section 374

Disclosure

Section 374 permits the sharing of information between HMRC and the Secretary of State to support the administration of community investment tax relief, overriding any statutory or other secrecy obligations that would otherwise prevent such disclosure.

• Secrecy obligations and other restrictions on disclosure do not prevent the Secretary of State from sharing information with HMRC to help them carry out their functions under the Income Tax Acts relating to community investment tax relief.
• Equally, HMRC officers may share information with the Secretary of State to help the Secretary of State carry out their functions under the community investment tax relief provisions.
• Information obtained through these permitted disclosures must not be passed on further, except where it is needed for legal proceedings arising from those functions.
• The restriction on onward disclosure ensures that information shared between HMRC and the Secretary of State remains protected and is used only for its intended purpose.