The BBA is now integrated into UK Finance. Please go to www.ukfinance.org.uk for new content and updates from UK Finance.
Material published by BBA prior to 1st July 2017 is still available on this website.
From 1 July 2017, the finance and banking industry operating in the UK will be represented by a new trade association, UK Finance. It will represent around 300 firms in the UK providing credit, banking, markets and payment-related services. The new organisation will take on most of the activities previously carried out by the Asset Based Finance Association, the British Bankers’ Association, the Council of Mortgage Lenders, Financial Fraud Action UK, Payments UK and the UK Cards Association.x
We expect that all BBA members will be affected by these proposals, and we note that given HMRC estimate that 300-400 organisations will be affected in total; more than half of those are likely to be banks. Measured by volume of accounts, BBA members are likely to provide the overwhelming majority of the savings income data relied upon by HMRC and therefore we have given detailed consideration to the consultation documents.
We support the overarching aim of making tax easier for our customers, and to make it easier for HMRC to support customers in assessing their tax affairs. There is a strong desire to make sure that the MTD initiative is successful for all those involved, and we are grateful for the ongoing engagement with HMRC teams during the consultation period.
Please read the full response via the link below.
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