RPSM12100020 – Technical Pages: Information Requirements and Administration: Penalty provisions

Penalty provisions

Failure to provide information in accordance with HMRC legislation, as outlined in Part 12 of this manual (RPSM), or the provision of false information can result in penalties. Below is a list giving details of the main penalty provisions relating to the provision of information.

Failure to provide information required by regulations

A penalty in accordance with Section 98 Taxes Management Act 1970. That is a penalty not exceeding £300. Where failure continues, a further penalty not exceeding £60 for each day failure continues.

Fraudulently or negligently provides incorrect information required by regulations

A penalty not exceeding £3000.

Failure to preserve documents as required by regulations

A penalty not exceeding £3000.

Failure to submit a registered pension scheme return

A penalty of £100. Where failure continues, a further penalty not exceeding £60 for each day on which failure continues.

Fraudulently or negligently submitting an incorrect registered pension scheme return and/or associated documents

A penalty not exceeding £3000.

Failure to produce documents and particulars as required by section 252 Finance Act 2004

A penalty not exceeding £300. Where failure continues, a further penalty not exceeding £60 for each day on which failure continues.

Fraudulently or negligently producing incorrect documents or particulars in response to a Notice under section 252 Finance Act 2004

A penalty not exceeding £3000.

Failure to submit an accounting for tax form

Where the number of persons whose particulars should be included in the return is 10 or less, a penalty of £100 for each quarter, or part quarter from which failure continues up to and including the fourth quarter.

Where the number of persons whose particulars should be included in the return is more than 10, a penalty of £100 for each 10 persons or part thereof (for example, 25 persons = £300 penalty) for each quarter or part quarter from which failure continues up to and including the fourth quarter.

Regardless of the number of persons whose particulars should be included in the return, from the fifth quarter, a penalty not exceeding the amount of income tax (excluding scheme sanction charge) for the quarter that the return was not made.

Fraudulently or negligently producing an incorrect accounting for tax form

A penalty not exceeding the difference between the amount of the tax shown on the form and the amount of tax which should have been shown on the form. Where no tax is shown on the form, the amount of tax which should have been shown.