Corporation Tax Act 2010 section 728

Provision of information about ownership of shares etc

Section 728 gives HMRC officers the power to require the provision of information about who owns shares, stock and securities, in order to determine whether the rules on company ownership changes apply.

• An HMRC officer may issue a notice requiring any person to provide information about the ownership of shares, stock or securities in a company.
• The purpose of this power is to help HMRC establish whether the provisions of Part 14 (change in company ownership) apply or have applied in relation to a company.
• The notice can require details of past or present ownership interests, enabling HMRC to trace changes in ownership over time.
• This information-gathering power supports the broader rules in Part 14, which restrict the use of losses, deductions and other tax attributes when a company changes hands.