Technical consultation on improving the data HMRC collects

HM Revenue and Customs (HMRC) has issued a technical consultation on draft legislation for improving the data it collects.

The Government is legislating to require businesses to change the information they provide to HMRC through both Income Tax Self Assessment (ITSA) and Pay As You Earn (PAYE) Real Time Information (RTI) returns completed by employers.

The draft regulations published here specify the additional information required from relevant taxpayers from April 2025: 

• employers will be required to provide more detailed information on employees’ hours paid via Real Time Information PAYE reporting
• shareholders in owner-managed businesses will be required to provide the amount of dividend income received from their own companies separately to other dividend income, and the percentage share they hold in their own companies via their Self Assessment return
• the self-employed will be required to provide information on start and end dates of self-employment via their Self Assessment return

The consultation period runs to the 9 May and the ATT’s will be responding. If you have any comments in relation to the consultation then please do contact us.