Taxes Consolidation Act 1997 section 894

Returns of certain information by third parties

Section 894 requires certain persons ("relevant persons") to file returns of information about payments, interest, and other financial matters by a specified date, without the need for a notice from an inspector.

• Relevant persons must file third-party returns of financial information by the specified return date for each chargeable period, without waiting for a notice from an inspector.
• Relevant persons include letting agents, payers of fees and commissions, recipients of income belonging to others, payers of interest, and nominee holders of securities.
• An inspector may exempt a person from the filing obligation entirely, or may confine the return to a particular type of information or payment.
• Failure to file a return under this section attracts penalties under sections 1052 and 1054, and the obligation exists independently of any separate notice issued under the specified provisions.