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HMRC internal manual

International Exchange of Information Manual

Notification requirement: Scope and requirements: When to send a notification

Notification requirement: Scope and requirements: When to send a notification

The notification must be issued between 30 September 2016 and 31 August 2017. 

If a Specified Financial Institution or Specified Relevant Person fails to identify and notify the relevant account holders or clients, they can be subject to a penalty of £3,000.  See [IEIM609000].