A6.332B Providers of payment or intermediary servicesSince the data-gathering powers were introduced in 2011, new payment methods and innovations have arisen through developments in the digital world. Provisions in Finance Act 2016 extend HMRC's data-gathering powers with effect from 15 September 2016 to include business intermediaries who facilitate transactions, particularly online, and electronic payment service providers who operate digital wallets, thereby future-proofing legislation to include emerging new data sources. Electronic stored-value payment services and business intermediaries were not explicitly specified as data-holders in FA 2011, Sch 23 as originally enacted and do not fall within any other existing categories of data-holder specified in the schedule.The following are data-holders: (a) providers of electronic stored-value payment services1, who perform a similar function to merchant acquirers (see A6.332A), by operating 'digital
Since the data-gathering powers were introduced in 2011, new payment methods and innovations have arisen through developments in the digital world. Provisions in Finance Act 2016 extend HMRC's data-gathering powers with effect from 15 September 2016 to include business intermediaries who facilitate transactions, particularly online, and electronic payment service providers who operate digital wallets, thereby future-proofing legislation to include emerging new data sources. Electronic stored-value payment services and business intermediaries were not explicitly specified as data-holders in FA 2011, Sch 23 as originally enacted and do not fall within any other existing categories of data-holder specified in the schedule.
The following are data-holders:
(a) providers of electronic stored-value payment services1, who perform a similar function to merchant acquirers (see A6.332A), by operating 'digital
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