Final Day Tomorrow: HMRC Third-Party Data Consultation Closes 20 August
As of 19 August 2026, HMRC’s technical consultation on better use of interest and card-sales data closes tomorrow at 23:59 on 20 August — banks, merchant acquirers, and advisers should send final responses and plan for a 6 April 2028 go-live.
HMRC’s technical consultation “Draft legislation: Better use of new and improved third-party data” closes at 11:59pm on 20 August 2026. As of late 19 August, respondents have one calendar day left. The draft rules target the quality and consistency of data HMRC receives on interest income (bank and building society interest and interest from other sources) and card sales from merchant acquirers and payment facilitators.
From April 2028, in-scope data holders would provide data on an ongoing basis without a fresh HMRC notice, report to set frequencies, collect and verify customer tax references, make reasonable efforts to obtain missing data, and notify HMRC before reporting. The measure is expected to come into force on 6 April 2028 — tomorrow’s close is the last chance to shape the draft secondary legislation, schemas, and due-diligence notices, not the go-live date.
What SMEs and advisers should take from the draft
Richer third-party feeds will make mismatches between bank interest, card takings, and Self Assessment or corporation tax packs more visible. Sole traders and limited companies should treat clean bookkeeping and reconciled sales feeds as a compliance control, not optional hygiene.
Accountancy firms that advise banks, fintechs, or payment facilitators should push clients to file a response even if the firm itself is not a data holder. Draft regulations contemplate annual and quarterly packs for relevant financial institutions and monthly packs for merchant acquirers.
Final-day response checklist
Read the accessible draft legislation and the draft due-diligence notice; note where tax ID verification steps exceed data you currently hold.
Quantify system cost for monthly card-sales feeds versus quarterly/annual interest packs and flag unrealistic timelines.
Email responses to thirdpartydata@hmrc.gov.uk before 11:59pm on 20 August 2026, stating whether you respond as a business, individual, or representative body.
Diary the 6 April 2028 effective date for programme planning if the rules land as drafted.
How FinnAccountings helps SMEs watching the data shift
FinnAccountings helps Ireland and UK sole traders and limited companies prepare bookkeeping and tax packs with Chartered Accountant insight before you or your ICAEW/ACCA or Chartered Accountant (Ireland) adviser files. We prepare review-ready drafts — we do not file consultation responses or HMRC data-gathering returns for you.
Related reading
Tonight’s closing-day briefing is the live countdown for last-minute responders.
Use this morning’s one-day consultation briefing for the fuller policy narrative.
After 20 August, watch Finance Bill draft-clause themes still open toward 7 September.
Keep MMTAR and MFA workstreams separate from this consultation close.
Sources & references
This article draws on official guidance from the sources below.
- Draft legislation: Better use of new and improved third-party data
HM Revenue & Customs · Accessed 2026-08-19 - Draft legislation (accessible version)
HM Revenue & Customs · Accessed 2026-08-19
Put this advice into action
FinnAccountings automates bookkeeping, tax, and VAT for Ireland and the UK.
Try AI accounting free