INTM603880 - Transfer of assets abroad: Information powers: What is meant by 'particulars'

The particulars to be requested in a Notice under ITA07/S748 will be those reasonably required to consider an individual’s liability to an income charge or benefits charge.

A full review must be made of all the information held in each case to determine what particulars are needed. It is recognised that the person on whom the Notice is served may have to obtain information from abroad at some trouble and expense and the points involved can be complex. Consequently, HMRC must avoid requesting information already held.

In addition, although there are no limitations in the legislation as to how far back information can be requested, if it is considered that information is needed going back more than 10 years this should be highlighted when referring the draft Notice to the technical specialist (see INTM603840) for comment.

It is particulars which are to be requested and not documents (see INTM603840). However, it may be appropriate in the circumstances of the case to ask the individual concerned to provide documentary evidence in support of those particulars, for example to provide explanations in relation to the relevant transactions undertaken. In addition, HMRC recognises that the person on whom the Notice is served may prefer to provide documents, if it is considered that it is the most convenient way to provide or illustrate particulars. For example, the Notice may request:

‘Particulars of the accounts for all periods since …, or if later the date of incorporation of any such company. Such particulars to include full details of all items comprising ‘The Balance Sheet’, ‘Profit and Loss Account’ and ‘Notes to the Accounts’ for each separate accounting period.’

Consequently, in the covering letter (final paragraph INTM603860), a couple of sentences on the following lines may be included:

‘It is acceptable to furnish actual copies of any accounts of which particulars are required in paragraphs X and Y of the Notice, provided such copies are copies of full and final audited accounts.

It is also acceptable to furnish actual copies of all or any other documents in response to the requirements of the Notice, provided such copies provide all the relevant particulars required by the Notice.’

Where the Notice is served on a solicitor or bank there may be limitations as to the particulars which they are to provide – see INTM604000 and INTM604020 respectively.