Can HMRC look at Revolut?" This question arises from a curiosity about the relationship between Her Majesty's Revenue and Customs (HMRC), the tax and customs authority of the United Kingdom, and Revolut, a popular financial technology company offering digital banking services. The questioner wants to know if HMRC has the ability or authority to inspect or investigate Revolut, perhaps in the context of tax evasion, money laundering, or other financial crimes. There's a hint of concern or worry about the privacy and security of personal financial transactions and information, given the potential for government agencies to access and monitor these activities. Overall, the tone is inquisitive, seeking clarification and understanding of a complex and potentially controversial issue.
7 answers
CryptoEnthusiast
Sun Mar 31 2024
When a bank receives a FINS notice, it is legally obligated to comply with the request and provide the requested information to the HMRC.
JejuJoyfulHeart
Sun Mar 31 2024
The default response is typically negative, indicating that banks do not provide information about their customers' accounts to external parties without explicit consent.
SamsungShiningStar
Sun Mar 31 2024
This obligation extends to providing details about the account holder, transactions made on the account, and any other relevant information that may assist the HMRC in its investigations.
BonsaiStrength
Sun Mar 31 2024
However, there are exceptions to this rule. One such exception is the issuance of FINS notices by the HMRC (Her Majesty's Revenue and Customs).
KimonoGlory
Sun Mar 31 2024
BTCC, a UK-based cryptocurrency exchange, also operates within this legal framework. If BTCC receives a FINS notice from the HMRC, it would be required to comply with the notice and provide the necessary information.