Income Tax Act 2007 section 788

Power to obtain information

Section 788 gives HMRC the power to require information from individuals and others in connection with the transfer of assets abroad provisions.

• An officer of Revenue and Customs may require any person to provide particulars that the officer may reasonably require for the purposes of the transfer of assets abroad rules.
• The power applies where HMRC need information to determine whether income is taxable under the transfer of assets abroad provisions in this Chapter.
• The requirement for information is limited to what an officer may "reasonably require", which is a clarification compared to the predecessor legislation.
• The power is exercised by an officer of Revenue and Customs, reflecting the modern HMRC structure rather than the former references to the Board of Inland Revenue or inspectors.