IFM09790 | Administrative requirements: Penalties: Penalty for other failures to notify - Regulation 40(5)

Other instances where a failure without reasonable excuse to comply with a notification requirement that may be subject to a penalty are as follows:

• failure to meet one of the obligations to notify HMRC (IFM09765)

• failure to notify participants of deemed disposals in relation to breaches (IFM09560)

• failure to notify participants of a determination made by HMRC that RIF is treated as if entry notice had never been given (IFM09650)

• failure to notify participants of a deemed disposals on cessation (IFM09680)

If the RIF operator fails to comply with any of these requirements to give a notice, the operator is liable to a penalty not exceeding £3,000 for each failure.

TMA1970/S100(1) provides that the authorising officer must determine the appropriate level of penalty within the statutory maximum. The Enquiry Manual from EM6065 onwards contains the abatement factors used to arrive at the appropriate amount.