Income Tax (Earnings and Pensions) Act 2003 Schedule 4 paragraph 33

Power to require information

Schedule 4 paragraph 33 gives HMRC the power to require any person to provide information needed in connection with a Company Share Option Plan (CSOP) scheme, and sets out the scope of that power and the minimum time allowed for compliance.

• HMRC may issue a formal notice requiring a person to provide any information reasonably needed to carry out their functions under the CSOP code, provided the person has or can reasonably obtain it
• This power covers information needed to check scheme notices and returns, as well as information to determine the tax liability (including capital gains tax) of scheme participants or other relevant persons
• The power also extends to information about the administration of a scheme and any changes to its terms
• The notice must specify a deadline for providing the information, which must be no earlier than three months after the date the notice is given