Section 195 | Penalty for concealing information

(1)A recipient of an information notice is liable to a penalty if the recipient—

(a)is required to provide information under the notice issued, and

(b)conceals, destroys or otherwise disposes of the information—

(i)before the information has been provided in accordance with the notice, or

(ii)in circumstances where an officer of Revenue and Customs has notified the person in writing that the information must continue to be available (and has not withdrawn that notification).

(2)A person is liable to a penalty if—

(a)an officer of Revenue and Customs has notified the person under section 180(3) that—

(i)the officer intends to issue an information notice to the person, and

(ii)certain information would be required under the notice, and

(b)the person conceals, destroys or otherwise disposes of the information.

(3)Subsection (2) does not apply if the person concealed, destroyed or otherwise disposed of the information only—

(a)after the end of the period of 6 months beginning with the day on which they were last notified under section 180(3) in respect of the information, or

(b)after an information notice has been issued to the person in respect of the information.

(4)The penalty under subsection (1) or (2) is—

(a)in relation to a notice under section 183 (financial institutions), £300, or

(b)otherwise, £20,000.

(5)In this section, a reference to concealing, destroying or otherwise disposing of information includes a reference to arranging for the concealment, destruction or disposal of information.