CFM99100 - Interest restriction: administration: penalties: penalties for failure to keep and preserve records
TIOPA10/SCH7A/PARA39
Where a reporting company fails to keep and preserve records as required by TIOPA10/SCH7A/PARA38 CFM98890, it is liable under PARA35 to a penalty not exceeding £3,000. »Ê¹ÚÌåÓýapp penalty must be assessed by HMRC within 12 months of the date that HMRC becomes aware of the failure, and the company must be notified.
»Ê¹ÚÌåÓýapp company may appeal against such a penalty within 30 days.
»Ê¹ÚÌåÓýapp penalty is payable within 30 days of notification or, if an appeal is made, within 30 days of the appeal being settled or withdrawn.