Income Tax (Earnings and Pensions) Act 2003 section 45

Power to require information

Section 45 sets out the power of HMRC officers to require the provision of information in connection with Save As You Earn (SAYE) share option schemes.

• An HMRC officer may issue a formal notice requiring any person to provide information reasonably needed to carry out HMRC's functions under the SAYE code, provided the person has or can reasonably obtain that information
• The power covers information needed to check notices filed under paragraph 40A, returns filed under paragraph 40B, and any accompanying information
• It also extends to determining the tax liability (including capital gains tax) of scheme participants or any other person whose tax position is affected by the operation of the scheme
• Information about the administration of a scheme and any changes to its terms may also be required, and the person must be given at least 3 months from the date of the notice to respond