{
  "url": "https://openlegislation.uk/finance-no-2-act-2017/schedule-17/paragraph-39",
  "json_url": "https://openlegislation.uk/finance-no-2-act-2017/schedule-17/paragraph-39.json",
  "legislation": "ukpga/2017/32",
  "legislation_title": "Finance (No. 2) Act 2017",
  "legislation_url": "https://openlegislation.uk/finance-no-2-act-2017",
  "path": "schedule/17/paragraph/39",
  "kind": "paragraph",
  "number": "39",
  "heading": null,
  "text": "(1) A person who fails to comply with a duty imposed by a provision of Part 1 of this Schedule 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.\nProvision\nMaximum penalty amount\nParagraph 11(1) or 12(1) (promoter’s duty to notify)\nThe applicable rate for each day on which the person fails to comply or, if sub-paragraph (3) applies, £1 million\nParagraph 17(2) (client’s duty to notify: no UK promoter)\nThe applicable rate for each day on which the person fails to comply or, if sub-paragraph (3) applies, £1 million\nParagraph 18(2) (client’s duty to notify: no promoter)\nThe applicable rate for each day on which the person fails to comply or, if sub-paragraph (3) applies, £1 million\nParagraph 19 (duty to provide further information)\nThe applicable rate for each day on which the person fails to comply or, if sub-paragraph (3) applies, £1 million\nParagraph 21 (promoter’s duty to update information)\n£5,000\nParagraph 22C (duty to provide further information: paragraph 22(3) case)\nThe applicable rate for each day on which the person fails to comply or, if sub-paragraph (3) applies, £1 million\nParagraph 23(2) (promoter’s duty to notify client of SRN)\n£5,000\nParagraph 23A(2) (duty to notify client of SRN: paragraph 22(3) case)\n£5,000\nParagraph 24(3) (client’s duty to notify other persons of SRN)\n£5,000\nParagraph 25(2) (client’s duty to provide client information to promoter or service provider)\n£5,000\nParagraph 26(1) or regulations under paragraph 26(3) (other party’s duty to provide information)\nThe amount specified in sub-paragraph (4)\nParagraph 27(3) (promoter’s or service provider’s duty to provide client information)\n£5,000\nParagraph 28 (service provider’s duty to provide other party’s information)\n£5,000\nParagraph 29 (duty to provide statement on notifiability)\n£5,000\nParagraph 30 (duty to provide supporting evidence on notifiability)\n£5,000\nParagraph 31 (introducer’s duty to provide other person’s information)\n£5,000\nParagraph 33 (duty to provide information in addition to SRN to client or other persons)\n£5,000\n(2) The “applicable rate” means—\n(a) £600, or\n(b) where an order has been made under paragraph 4 or 5 (orders about notifiability) in respect of the arrangements or proposal in relation to which the person fails to comply—\n(i) £600 for each day falling before the end of the period of eleven days beginning with the day on which the order was made, and\n(ii) £5,000 for each day falling after the end of that period.\n(3) This sub-paragraph applies where an authorised officer considers that the amount otherwise specified in relation to the provision is inappropriately low.\n(4) The amount specified for paragraph 26(1) or regulations under paragraph 26(3) is—\n(a) £10,000, if the person has failed to comply with the paragraph or regulations on two or more other occasions during the period of 36 months ending with the date of the current failure,\n(b) £7,500, if the person has failed to comply with the paragraph or regulations on one other occasion during the period of 36 months ending with the date of the current failure, or\n(c) £5,000, in any other case.\n(5) In sub-paragraph (1), a reference to a day on which a person fails to comply with a duty is a reference to a day that—\n(a) begins after the day by which the person was required to comply with the duty, and\n(b) ends before the earlier of—\n(i) the day on which the person complies with the duty,\n(ii) the day on which any reference number is allocated to the arrangements or proposed arrangements concerned in the circumstances described in sub-paragraph (6), and\n(iii) the day on which a penalty under sub-paragraph (1) is imposed in relation to the failure.\n(6) The circumstances are—\n(a) the duty referred to in sub-paragraph (5) is a duty imposed by paragraph 11(1), 12(1), 17(2) or 18(2), and\n(b) it is a case within paragraph 22(3).\n(7) In this paragraph “authorised officer” means an officer of Revenue and Customs authorised by HMRC for the purposes of this paragraph.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Sch. 17 paras. 39-42 substituted for Sch. 17 paras. 39-44 (18.3.2026) by Finance Act 2026 (c. 11), s. 216(3)(b) (with s. 219)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2017/32/schedule/17/paragraph/39",
    "retrieved_at": "2026-10-29T09:05:16.335265+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}