CH23160 | Information & Inspection Powers: Information notices: Financial Institution Notice: Penalty for Disclosure

A person who breaches a requirement not to disclose a notice or anything relating to it (CH23150), is liable to a penalty of £1,000. In this context, “person” means the financial institution that received the notice.

You must notify the person and the assessment of the penalty must be made within the period of 12 months beginning with the date on which the breach of the requirement first came to the attention of an officer of Revenue and Customs.

FA08/SCH36/PARA51B