HMRC Third-Party Data Consultation: One Day to 20 August
As of 19 August 2026, HMRC’s technical consultation on better use of third-party interest and card-sales data closes tomorrow at 23:59 on 20 August — banks, building societies, and merchant acquirers should send final responses today.
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 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.
The measures are expected to take effect from 6 April 2028. They are not yet law — tomorrow’s close is the last chance to shape due-diligence notices, reporting frequency, and tax-reference verification before legislation progresses.
Who should still respond today
In-scope data holders include financial institutions paying or crediting interest and merchant acquirers handling card sales — broadly the Schedule 23 Finance Act 2011 population plus smaller suppliers of the same data being drawn in. 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 ongoing reporting without a fresh HMRC notice: annual and quarterly packs for relevant financial institutions, monthly packs for merchant acquirers, plus due diligence and advance registration with HMRC before reporting starts.
What to finalise in the next 24 hours
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 in your response.
Email responses to [email protected] before 11:59pm on 20 August 2026.
Diary the 6 April 2028 effective date for programme planning if the rules land as drafted — do not treat the consultation close as the go-live date.
How FinnAccountings helps SMEs watching the data shift
Richer third-party feeds will make mismatches between bank interest, card takings, and Self Assessment or corporation tax packs more visible. 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
Use yesterday’s two-day consultation briefing for the fuller policy narrative.
Keep MTD and agent registration workstreams separate from this consultation close.
After 20 August, watch Finance Bill draft-clause themes still open toward 7 September.
Use the final-day briefing for the last 24 hours before 23:59 on 20 August.
Sources & references
This article draws on official guidance and publications from the sources below.
- 1.Draft legislation: Better use of new and improved third-party data
HM Revenue & Customs · Accessed 2026-08-19
- 2.Draft legislation (accessible version)
HM Revenue & Customs · Accessed 2026-08-19
Put this into practice
FinnAccountings helps with bookkeeping, tax, and VAT prep for Ireland and the UK — with Chartered Accountant insight on AI drafts. Educational articles are not filing advice.
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