Can Inland Revenue look in my bank accounts?

I have always wondered this, I’m not a tax crook or anything but I always assumed that the Inland Revenue / government can look in any bank accounts it likes.

Is this true?

Thanks
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Comments

  • if they have the smallest piece of evidence or intelligence, Yes & you wouldnt even know.
    Not Again
  • RubyBish
    RubyBish Posts: 145 Forumite
    First Anniversary Combo Breaker
    All banks have a legal obligation to submit a report detailing customers and the interest earnt and the tax deducted. This is known as an S17 report IIRC. HMRC will use these reports to match up against individuals and then pursue any discrepencancies directly with the individual.

    How effective the matching process is, is debatable.
  • musehead
    musehead Posts: 389 Forumite
    First Post First Anniversary Combo Breaker
    Can they look at individual transactions?
  • BruceyBonus
    BruceyBonus Posts: 1,142 Forumite
    First Post First Anniversary Combo Breaker
    musehead wrote: »
    Can they look at individual transactions?
    If they have any evidence (or suspicion) of any wrong-doing, then yes they can.
  • cos69
    cos69 Posts: 413 Forumite
    musehead wrote: »
    Can they look at individual transactions?

    Don't remember what the limit is, but all transactions above the limit get flagged for potential money laundering activities. The limit varies, I think it may be £25k
    "How could I have been so mistaken as to trust the experts" - John F Kennedy 1962
  • Blah99
    Blah99 Posts: 486 Forumite
    If they have any evidence (or suspicion) of any wrong-doing, then yes they can.

    Not without a warrant or court order, they can't. They can access the summary data (interest earned) etc but detailed transactions/balances are not free and open for inspection. Same goes for councils and other public bodies that might want to snoop on your records.
    Mmmm, credit crunch. Tasty.
  • lanmonkey
    lanmonkey Posts: 28 Forumite
    Blah99 wrote: »
    Not without a warrant or court order, they can't. They can access the summary data (interest earned) etc but detailed transactions/balances are not free and open for inspection. Same goes for councils and other public bodies that might want to snoop on your records.

    This is what I always thought. I mean if it was that easy to look in someones bank account(s) there would be no benefit fraud.

    Glad to know this is in fact the case.

    Anyone got any links with details?

    Thanks
  • Stavros_3
    Stavros_3 Posts: 1,288 Forumite
    Schedule 1 production order within the Police and Criminal Evidence Act 1984, signed by a High court judge authorising officers to inspect bank accounts
    Liquidity is when you look at your investment portfolio and **** your pants
  • lanmonkey
    lanmonkey Posts: 28 Forumite
    Stavros wrote: »
    Schedule 1 production order within the Police and Criminal Evidence Act 1984, signed by a High court judge authorising officers to inspect bank accounts

    wow, so they would have to have pretty strong evidence before they even consider asking a judge for permission to look in yoru bank accounts
  • Stavros_3
    Stavros_3 Posts: 1,288 Forumite
    lanmonkey wrote: »
    wow, so they would have to have pretty strong evidence before they even consider asking a judge for permission to look in yoru bank accounts

    Absolutely 2014.gif
    Liquidity is when you look at your investment portfolio and **** your pants
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