I am participating in the community forum of a broker that serves many clients who are relatively new to stock and shares investing. Repeatedly I encounter great ignorance about taxes on dividends and capital gains. Perhaps these clients will never exceed the annual allowances for dividends and capital gains.
But I am curious what will happen if they do have taxes to pay and with either don't realise or are trying to evade. I believe the broker is required to send transaction data labelled with the customer's TIN to the FCA. But does FCA pass that data on to HMRC? Are brokers required to provide any data to HMRC, similarly as banks send data about interest payments?
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