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HMRC internal manual

International Exchange of Information Manual

HM Revenue & Customs
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Compliance: Penalties

Compliance: Penalties

The Regulations set out the penalties that will be applicable where a Reporting Financial Institution fails to provide the required information and where it provides inaccurate information. A penalty can be applied for each separate failure by the Financial Institution

These penalties operate in the same was as other penalties for failure to comply with information requests, such as Schedule 23 of FA2011.