IFM09775 | Administrative requirements: Penalties: Penalty for failing to provide information - Regulation 40(2)

This penalty concerns the information an operator of a RIF must provide to investors and to HMRC by the information reporting date.

If the operator of a RIF fails, without reasonable excuse, to provide information to investors (IFM09720), to an investor scheme (IFM09730) or to HMRC (IFM09740) by the information reporting date, the operator is liable to a penalty of £100. The charge of £100 is for each occurrence, up to a maximum of £1,000 per any period of account.

This penalty is provided for by Regulation 40(2) of The Co-ownership Contractual Schemes (Tax) Regulations 2025, S.I. 2025/200 (‘SI 2025/200’).