IEIM905130 | Penalties for Failure to Provide Information to HMRC

HMRC may request information from a Platform Operator (PO), as part of its compliance activities, to ensure that POs are meeting their obligations under the regulations.

If a PO fails to provide information requested by HMRC by the deadline specified in the notice, they will be liable to a penalty of up to £5,000.

HMRC will issue a notice of an assessment to a penalty. If the failure continues after the notice has been issued, daily penalties of up to £600 per day may apply. Daily penalties will continue to be charged until the information requested has been provided to HMRC.