Savings (Government Contributions) Act 2017 section Sch 2 para 22

Penalties for non-compliance with information requirements

Schedule 2, paragraph 22 sets out the penalties that apply when a person fails to comply with information requirements relating to Help to Save accounts, including failing to make claims, submit returns, respond to information notices, or obstructing HMRC inspections.

• A person who fails to make a required claim, submit a required return, comply with an HMRC information notice, or who deliberately obstructs an approved HMRC inspection is liable to an initial fixed penalty (currently £300, as specified in Finance Act 2008, Schedule 36, paragraph 39(2)).
• If the failure or obstruction continues after the initial penalty is imposed, a further daily penalty of up to £60 per day (as specified in Finance Act 2008, Schedule 36, paragraph 40(2)) may be charged for each subsequent day the non-compliance continues.
• A person who conceals, destroys or otherwise disposes of documents — or arranges for their concealment, destruction or disposal — in breach of the relevant document preservation rules is treated as having failed to comply with an information notice and is subject to the same penalties.
• The existing penalty framework from Finance Act 2008, Schedule 36 (covering liability, assessment, appeals and enforcement) applies to these penalties, with the term "the tribunal" meaning the First-tier Tribunal or, where applicable, the Upper Tribunal.

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