BKM507350 - HMRC operation of the Code: ensuring banks keep their Code commitments

The commitments banks make under the Code represent good practice in large business tax compliance and for the most part HMRC builds Code compliance monitoring into its day to day dealings with banks in respect of their own tax affairs, their level of engagement and openness with HMRC and their dealings with customers. Code compliance is also an additional element integrated into the annual risk review[1] carried out by CCM led teams dealing with banks, and HMRC carries out some targeted Code compliance activity.

[1] The risk review process is set out in the tax compliance risk manual (TCRM3000+)