RPSM07200180 - Member Pages: Investments: What happens if I do not tell HMRC about an unauthorised payment?

What happens if I do not tell you about an unauthorised payment?

The scheme administrator must report all unauthorised payments to HMRC by 31 January following the end of the tax year in which the payment was made.

If we receive one of these reports, we can check whether or not you have told us of the payment that the scheme administrator has reported.

• Interest is payable on any tax paid late. Surcharge may also be due.
• There are penalties for fraudulently or negligently making an incorrect return.

For further information on penalties see the HMRC website.