# Finance Act 2022, Paragraph 20: Penalty for non-compliance with paragraph 8

Extent: E+W+S+N.I.

(1) A company or partnership that is required by paragraph 8(2)(a) to give a notification to HMRC is liable to a penalty if it fails to give the notification in accordance with that paragraph.
(2) The amount of the penalty under sub-paragraph (1) is—
(a) for a first failure in respect of a relevant tax, £5,000;
(b) for a second failure in respect of a relevant tax, £25,000;
(c) for a further failure in respect of a relevant tax, £50,000.
(3) A company or partnership that is required by paragraph 8(2)(b) to give a notification to HMRC is liable to a penalty if it fails to give the notification in accordance with that paragraph.
(4) The amount of the penalty under sub-paragraph (3) is £5,000.

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Source: https://www.legislation.gov.uk/ukpga/2022/3/schedule/17/paragraph/20 (the official version)
Page: https://openlegislation.uk/finance-act-2022/schedule-17/paragraph-20
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.