FA 2011, Sch 23 provides HMRC with data-gathering powers. For commentary on the powers and commentary on data-holder notices, please refer to V5.234.
Data-holder notices – initial penalty
An initial penalty applies if a person fails to comply with a data-holder notice or conceals, destroys or otherwise disposes of a material document or arranges for such concealment, destruction or disposal1.
A document is a material document if, at the time the data-holder acts, the data-holder has2:
- Ìý
•ÌýÌýÌýÌý received a data-holder notice requiring the data-holder to provide the document or data contained in the document
- Ìý
•ÌýÌýÌýÌý not received such a notice and not more than six months has passed since being informed by HMRC that the data-holder will, or is likely to, receive such a notice
HMRC may assess the penalty and notify the person concerned. Such an assessment must be made within the period of 12 months beginning with the latest of3:
- Ìý
•
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