Wire · regulatory
How HMRC is Shifting the Compliance Landscape for Banking & Fintech
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Fusion42 · 12 October 2026 · Fusion42 review
HM Revenue & Customs has shifted to a data-driven enforcement approach across UK banking and fintech, targeting corporate tax evasion, IR35 misclassifications, CRS reporting errors, and VAT cost allocations. This has caused significant financial penalties and operational risks for major financial institutions in 2026.
This Wire brief sits within Fusion42's coverage of Fintech.
◆ ◆ The Wire takeaway
HMRC's use of data analytics turns tax compliance into a material business risk for UK financial firms. You need to recheck your tax and contractor reporting processes now before penalties hit your balance sheet.
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1 source · 12 Oct 2026
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