BKM506700 | Governance protocol: role of the Independent Reviewer

Before determining whether there has been a breach, HMRC’s Commissioners must first commission an Independent Reviewer to give an opinion on whether there has been a breach of the Code (subject to no GAAR notice having been given: see BKM506500), and if so whether HMRC’s Commissioners should publish the name of a bank as having breached the Code. The matter will be referred to the Independent Reviewer once the bank is notified of TDRB’s conclusion.

The legislation requires that the Independent Reviewer consider the particular bank’s conduct when determining whether they have breached the Code – FA14/S287. The Independent Reviewer has an obligation to follow the Protocol as far as it is relevant to their functions.