IEIM750010 - Overview
Where a person fails to comply with any of the following obligations set out in the Regulations, that person may be liable for a penalty. The penalty that applies depends on the obligation hat the person has failed to meet.
The following failures may incur a liability under the primary penalty regime (see IEIM75020):
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Failure of an intermediary to comply with the reporting obligation under regulation 3(2).
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Failure of a reportable taxpayer to comply with the reporting obligation under regulation 7(2).
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Failure of an intermediary to notify where legal professional privilege applies in accordance with regulation 5(2).
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Failure to comply with a requirement to provide information or documents under regulation 11.