IEIM405117 | Penalties for Failure to Register with HMRC

Penalties for Failure to Register with HMRC

A Reporting Financial Institution or Trustee-Documented Trust (see IEIM400990) must register with HMRC’s AEOI Service (see IEIM404510) by the later of 31 December 2025 or 31 January following the calendar year in which it first falls within the relevant definition of Reporting Financial Institution or Trustee-Documented Trust.

A failure to comply with notification requirements may result in a penalty of up to £1,000.

If the failure continues after notice of the penalty has been issued, daily penalties of up to £300 per day may apply. Daily penalties will continue to be charged until the registration requirements have been met.