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Regulation 22G Penalties for failure to provide informationF1

If a financial institution or UK representative fails to comply with regulation 12G (provision of information), the financial institution or UK representative is liable—

(a)

to a penalty not exceeding £5,000, and

(b)

if the failure continues after notice of an assessment of a penalty under paragraph (a) is issued, to a penalty or penalties not exceeding £600 for each subsequent day on which the failure occurs.

Annotations

Textual amendments

F1

Regs. 22A-22N inserted (16.7.2025) by The International Tax Compliance (Amendment) Regulations 2025 (S.I. 2025/740), regs. 1(1), 12