SolvedSection 315 | Penalties
From legislation.gov.uk
(1)A person who fails to comply with a duty imposed by a provision mentioned in the first column of the table is liable to a penalty not exceeding the amount specified in relation to that provision in the second column.
| Provision | Maximum penalty amount |
|---|---|
| Section 308(1) or (3) (promoter’s duty to notify) | The applicable rate for each day on which the person fails to comply or, if subsection (3) applies, £1 million |
| Section 309(1) (client’s duty to notify: no UK promoter) | The applicable rate for each day on which the person fails to comply or, if subsection (3) applies, £1 million |
| Section 310 (client’s duty to notify: no promoter) | The applicable rate for each day on which the person fails to comply or, if subsection (3) applies, £1 million |
| Section 310A (duty to provide further information) | The applicable rate for each day on which the person fails to comply or, if subsection (3) applies, £1 million |
| Section 310C (promoter’s duty to update information) | £5,000 |
| Section 311C (duty to provide further information: section 311(3) case) | The applicable rate for each day on which the person fails to comply or, if subsection (3) applies, £1 million |
| Section 312(2) (promoter’s duty to notify client of SRN) | £5,000 |
| Section 312ZA(2) (duty to notify client of SRN: section 311(3) case) | £5,000 |
| Section 312A(2) or (2A) (client’s duty to notify other persons of SRN) | £5,000 |
| Section 312B (client’s duty to provide client information to promoter or service provider) | £5,000 |
| Section 313(1) or regulations under section 313(3) (other party’s duty to provide information) | The amount specified in subsection (4) |
| Section 313ZA (promoter’s or service provider’s duty to provide client information) | £5,000 |
| Section 313ZB (service provider’s duty to provide other party’s information) | £5,000 |
| Section 313ZC (employer’s duty to provide employee information) | £5,000 |
| Section 313A (duty to provide statement on notifiability) | £5,000 |
| Section 313B (duty to provide supporting evidence on notifiability) | £5,000 |
| Section 313C (introducer’s duty to provide other person’s information) | £5,000 |
| Section 316A (duty to provide information in addition to SRN to client or other persons) | £5,000 |
(2)The “applicable rate” means—
(a)£600, or
(b)where an order has been made under section 306A or 314A (orders about notifiability) in respect of the arrangements or proposal in relation to which the person fails to comply—
(i)£600 for each day falling before the end of the period of ten days beginning with the day on which the order was made, and
(ii)£5,000 for each day falling after the end of that period.
(3)This subsection applies where an authorised officer considers that the amount otherwise specified in relation to the provision is inappropriately low.
(4)The amount specified for section 313(1) or regulations under section 313(3) is—
(a)£10,000, if the person has failed to comply with the section or regulations on two or more other occasions during the period of 36 months ending with the date of the current failure,
(b)£7,500, if the person has failed to comply with the section or regulations on one other occasion during the period of 36 months ending with the date of the current failure, or
(c)£5,000, in any other case.
(5)In subsection (1), a reference to a day on which a person fails to comply with a duty is a reference to a day that—
(a)begins after the day by which the person was required to comply with the duty, and
(b)ends before the earlier of—
(i)the day on which the person complies with the duty,
(ii)the day on which any reference number is allocated to the arrangements or proposed arrangements concerned in the circumstances described in subsection (6), and
(iii)the day on which a penalty under subsection (1) is imposed in relation to the failure.
(6)The circumstances are—
(a)the duty referred to in subsection (5) is a duty imposed by section 308(1) or (3), 309(1) or 310, and
(b)it is a case within section 311(3).