Three Days Left: HMRC Third-Party Data Consultation Closes 20 August
HMRC’s technical consultation on draft interest and card-sales data legislation closes at 11:59pm on 20 August 2026 — three days for banks, merchant acquirers, and industry bodies to send final responses.
As of 17 August 2026, HMRC’s technical consultation “Draft legislation: Better use of new and improved third-party data” has three days left. Responses must arrive by 11:59pm on 20 August 2026. The pack covers draft secondary legislation under Schedule 23 Finance Act 2026, draft schemas for interest income and card sales, and draft notices on due diligence and data-holder notification.
The policy aim is to help customers get tax right first time by improving how HMRC matches third-party feeds to taxpayer records, supporting digital prompts, and targeting compliance interventions more accurately. Draft rules are intended to take effect from 6 April 2028 for in-scope ongoing reporting.
What in-scope data-holders should still say
From April 2028, in-scope organisations are expected to provide data on an ongoing basis without a separate HMRC notice for each cycle, report to a set frequency and timeframe, collect and verify specific tax references before submission, make reasonable efforts to obtain missing required data, and notify HMRC before reporting.
Banks, building societies, other financial institutions, merchant acquirers, payment facilitators, and industry bodies remain the primary audience. Agents advising those firms should separate consultation drafting from client Self Assessment work — the consultation email is [email protected].
When responding, say whether you are a business, individual, or representative body; representative bodies should describe how many people they represent and of what nature.
Practical implications for SMEs and advisers
Even if you are not a data-holder, cleaner interest and card-sales evidence in client files will matter more as HMRC matching improves. Sole traders and landlords already in Making Tax Digital for Income Tax should keep bank interest and card receipts reconcilable to digital records ahead of the next quarterly update.
Do not conflate this 20 August consultation close with MMTAR tranche dates on 18 August or MFA activation on 19 August — three different workstreams in three days.
How FinnAccountings helps while you finish responses
Organised transaction and receipt packs make interest and card-sales evidence easier to review. FinnAccountings helps Ireland and UK businesses and advisers prepare bookkeeping and tax packs with Chartered Accountant insight before qualified filing. Start a free trial for review-ready drafts — we prepare records; we do not submit consultation responses or HMRC filings on your behalf.
Related reading
For the two-day countdown as of 18 August, use the dedicated briefing before the 20 August close.
Use yesterday’s four-day briefing if you need the fuller consultation pack narrative.
The earlier closes briefing remains useful for schema and due-diligence context.
Keep the agents’ critical fortnight overview for the overlapping 18–20 August cluster.
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 2026-08-17
- 2.Draft legislation (accessible version)
HM Revenue & Customs · Accessed 2026-08-17
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.
Try AI accounting free