IEIM905300 | Penalty Reductions

If a Platform Operator (PO) fails to meet its obligations, a penalty may be applicable, but this will always depend on the facts and circumstances.

No penalty will be charged where the PO has a reasonable excuse for the failure and the failure is remedied without unreasonable delay once this excuse no longer applies.
Where a penalty does apply, HMRC will consider penalty reductions.

Similarly, where a report is inaccurate or incomplete despite the PO having taken reasonable care to get things right, no penalty will be due.