RCB/26/14 HMRC sharing of non-financial VAT registration data and exporter data
Revenue & Customs Brief, Issue 26. 25 June 2014
Purpose of this brief
THMRC data sharing measures are being taken forward in the Small Business, Enterprise and Employment Bill which was announced in the Queen's Speech on 4 June 2014 and published on 25 June 2014. The Government is seeking a power permitting HMRC to release non-financial VAT registration data for specific purposes (principally credit scoring) to a small number of qualifying parties (for example, credit reference agencies), and is seeking a power to make regulations (after consultation) to permit the release of exporter data as open data.
Who needs to read this?
VAT registered businesses and exporting businesses which may benefit from having their data shared, for example through an improved trade credit rating or through access to export data. Potential users of the data which is expected to be released.
Sharing of non-financial VAT registration data
VAT registration data is drawn from the data collected or created when traders register for VAT or update a registration. This data includes the VAT