Policy paper

Code of Practice on Taxation for Banks

The Code of Practice on Taxation for Banks is a voluntary code. Its purpose is to encourage banks to follow the letter as well as the spirit of the law in relation to tax planning.

• From: HM Revenue & Customs, HM Treasury and The Rt Hon David Gauke
• Published: 5 December 2013

This publication was withdrawn on 8 November 2016

Some of the information on this page has been re-published on new pages, as below:

• The Code of Practice on Taxation for Banks has been re-published, but has not been amended
• The Code of Practice on Taxation for Banks - governance protocol was updated and re-published on 8 November 2016
• the list of code adopters is now incorporated within the Code of Practice on Taxation for Banks annual report

Documents

Code of Practice on Taxation for Banks

PDF, 17.7 KB, 2 pages

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List of banks adopting the code - 5 December 2013

PDF, 654 KB, 6 pages

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Establishing HMRC’s view on a bank’s compliance with the Code of Practice on Taxation for Banks

PDF, 697 KB, 4 pages

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Governance protocol - 5 December 2013

PDF, 730 KB, 8 pages

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Details

The Code of Practice on Taxation for Banks is a voluntary code which was introduced in 2009. It covers three main areas: governance, tax planning and relationship with HMRC.

The list of banks adopting the code lists those banks and Building Societies who have unconditionally adopted the Code of Practice on Taxation for Banks as at 5pm on the 4 December 2013.

‘Establishing HMRC’s View on a Bank’s Compliance with the Code of Practice on Taxation for Banks’ sets out the background to the Code of Practice on Taxation for Banks and the Governance Protocol.

The Governance Protocol explains the communication and escalation routes where HMRC has concerns that a bank may not have met its Code commitments.

Read the Banking Code of Practice draft legislation

Published 5 December 2013