ANNEX 1:: MINOR CHANGES IN THE LAW MADE BY THE BILL This change is adverse to some taxpayers in principle. But it is expected to have no practical effect as it is in line with current practice.
Change 114: Transfer of assets abroad, transactions in land and sales of occupation income: power to obtain information: “reasonably require”: sections 748, 771 and 788
This change expressly restricts the particulars that an officer of Revenue and Customs may require to be provided under section 745(1) or section 778(1) of ICTA to those particulars which the officer may reasonably require.
Section 745(1) of ICTA enables the Board to require a person to give them such particulars “as they think necessary” for the purposes of Chapter 3 of Part 17 of ICTA. Section 778(1) of ICTA similarly enables the Board or an inspector to require a person to give them such particulars “as the Board or the inspector think necessary” for the purposes of sections 775 and 776.
The opportunity has been taken in sections 748, 771 and 788 of this Act to modernise this language and expressly impose the criterion of reasonableness. This is consistent with the way in which HMRC exercise the power in practice.