Guidance

Automatic Exchange of Information Privacy Notice

Updated 31 December 2020

© Crown copyright 2020

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This publication is available at https://www.gov.uk/government/publications/automatic-exchange-of-information-privacy-notice/automatic-exchange-of-information-privacy-notice

Purpose of this document

This privacy notice explains how HMRC collects and uses the personal data it receives from UK financial institutions, UK intermediaries and overseas tax authorities in relation to Automatic Exchange of Information agreements. You should read the HMRC Privacy Notice alongside this privacy notice.

Why we process your data and where we get it from

Automatic Exchange of Information agreements are made between the UK and other countries. These agreements allow the exchange of information between tax authorities of different countries about financial accounts and investments to help deter and tackle tax non-compliance, including tax evasion. They also allow exchange of information about arrangements which contain certain hallmarks that could be used to avoid or evade tax.

Information is provided to HMRC by UK financial institutions such as banks, building societies, brokers, insurance companies, collective investment schemes and other investment entities. Information is also provided by UK intermediaries, including accountants, lawyers and tax advisers.

The International Exchange of Information Manual has more information about the type of UK financial institutions and UK intermediaries required to report to HMRC.

What data we collect and when

The information provided to HMRC may include:

  • your name
  • your address
  • your date of birth
  • your place of birth
  • your tax identification number, where applicable
  • your account number
  • the name and identifying number of the account provider
  • your account balance, or value, at the end of the calendar year, or other appropriate period
  • the amount of interest, dividends, other income or gross proceeds paid or credited to you by the account provider during the calendar year, or other appropriate period
  • where you are resident for tax purposes
  • details of reportable arrangements you are involved in

We collect data from UK financial institutions annually by 31 May, and exchange data with overseas tax authorities annually by 30 September.

Information on reportable arrangements is provided to HMRC on an ongoing basis.

How we process your data

UK account providers send the information to HMRC, and we share the information with the relevant overseas tax authority if the account is held by one of their tax residents.

If you are a UK tax resident with an account outside the UK, HMRC will receive the information from the relevant tax authority and use it for the purposes of our tax administration functions.

UK intermediaries provide information on reportable arrangements to HMRC, and we will share this with overseas tax authorities. Information received by other tax authorities about arrangements involving the UK will be provided to HMRC.

HMRC processes your personal data under Article 6(1)(c) and (e) of the United Kingdom General Data Protection Regulation (UK GDPR), for example, because it is necessary:

  • for us to do so to comply with HMRC’s legal obligations
  • for us to do so in order to carry out our functions as the UK’s tax authority

Who we share your personal data with

HMRC shares your personal data with overseas tax authorities. Read more about Automatic Exchange of Information.

Overseas data transfers

When we transfer your personal data outside of the UK we ensure that we meet our obligations under the UK GDPR and Data Protection Act 2018.

Each tax jurisdiction is assessed by a panel of experts in relation to the confidentiality and data safeguard standards they have in place to ensure they meet the requirements of the Automatic Exchange of Information standard prior to the jurisdiction receiving information.

How long we keep your data

In line with our published records management and retention and disposal policy, HMRC generally retains records for 6 years plus the current year, but we retain relevant information for longer if it can be justified for statutory, regulatory, legal or security reasons.

Your rights in relation to your personal data

You can read about your rights in the HMRC Privacy Notice.

Contact HMRC or make a complaint

You can contact us if you have questions about this privacy notice or want to make a complaint.

Changes to this privacy notice

We keep our privacy notices under regular review. If we make changes to this notice, we’ll amend the date at the top of this page.

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