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Home / Simons-Taxes /Administration and compliance /Part A4 Returns, assessment and collection /Division A4.6 Collection of tax /Enforcement by deduction from accounts (Direct Recovery of Debts (DRD)) / A4.619 Hold notice—penalties
Commentary

A4.619 Hold notice—penalties


Administration and compliance

A deposit-taker is liable to a penalty of £300 if it fails to1:

  1. Ìý

    (a)ÌýÌýÌýÌý comply with an information notice, a hold notice or a deduction notice

  2. Ìý

    (b)ÌýÌýÌýÌý comply with an obligation to send details to HMRC in response to a hold notice (ie details of the accounts held by the taxpayer (and if there are no such accounts, confirmation to HMRC that this is the case))

  3. Ìý

    (c)ÌýÌýÌýÌý notify HMRC that there are no affected accounts

  4. Ìý

    (d)ÌýÌýÌýÌý comply with an obligation to cancel, or modify the effects of, a hold notice, or

  5. Ìý

    (e)ÌýÌýÌýÌý to make any necessary adjustments following HMRC's consideration of an objection to a hold notice

Liability for a penalty will also arise if after receipt of an information notice or hold notice, the deposit-taker makes a

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