Connect - HMRC’s data analysis system

What it knows about us. The data that Connect holds.

Connect is a £100m award winning data analysis system developed by HMRC which is at the forefront of international tax compliance. Information held in the system currently includes:

• UK and overseas bank account information
• Debit & Credit transaction information for the last 4 years
• Land Registry property ownership information
• UK Border Agency details of entry into and departure from the UK and the intended destinations
• Companies House information
• HMRC data – SA, VAT and Company taxation returns submitted
• DVLA – cars owned
• Insurance and healthcare membership details
• Information from various data thefts – eg: the Panama and Paradise papers
• Credit reference agency information
• Online information including Facebook, Instagram, Paypal, eBay and Zoopla
• Electoral roll details
• Council data including Housing Benefit payments, council tax and business rates
• Overseas yacht registers

And more data continues to be added each year.

What can Connect do with the data?

HMRC is aiming to become one of the most digitally advanced tax administrations in the World.

Tax filings, compliance activity, information exchange and co-operation with other tax authorities around the world will be digital, real time and enforced with criminal and civil penalties across the broad range of UK taxes.

Connect will:

• Support HMRC’s tax compliance activity
• Generate tax enquiries
• Analyse the massive amounts of data received by HMRC, quickly and efficiently
• Undertake prompted analysis, make connections between various data sources and undertake searches to target criminal tax activity and non-compliance in specific areas and sectors.
• Utilising its artificial intelligence functionality to suggest and ask questions based on the previous prompts made by HMRC analytical officers. To highlight data inconsistencies and flag areas of risk and cases of interest.

 

At the push of a button the worldwide financial and business affairs of an individual and their businesses, will be reviewable and comparable to their annual UK tax returns.

As the digital environment increases to impact upon our daily activity and information from around the world is shared. The idea of overseas assets being out of sight and reach by HMRC is a thing of the past.

Make sure are up to date and compliant in respect of your tax affairs or HMRC will be in touch to help you get it right and charge you a penalty for not doing it yourself in the first place.

 

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