SCHEDULES
SCHEDULE 1Lifetime ISAs: further provision
Part 4Enforcement of information requirements
Penalties for non-compliance with information requirements
16
1
Sub-paragraph (2) applies to a person who—
a
fails to make a claim in accordance with a requirement imposed on the person under paragraph 3(1)(b),
b
fails to comply with a notice under paragraph 6(2) or 10(2) given to the person,
c
fails to comply with a requirement imposed on the person under paragraph 9(1)(a), or
d
deliberately obstructs an officer of Revenue and Customs in the course of an inspection under paragraph 13 or 14 that has been approved by the tribunal.
2
The person is liable to a penalty of the amount for the time being specified in paragraph 39(2) of Schedule 36 to the Finance Act 2008.
3
If the failure or obstruction mentioned in sub-paragraph (1) continues after the date on which a penalty is imposed under sub-paragraph (2) in respect of the failure or obstruction, the person is liable to a further penalty or penalties not exceeding the amount for the time being specified in paragraph 40(2) of that Schedule for each subsequent day on which the failure or obstruction continues.
4
The reference in sub-paragraph (1)(b) to a person who fails to comply with a notice under paragraph 6(2) or 10(2) includes a person who conceals, destroys or otherwise disposes of, or arranges for the concealment, destruction or disposal of, a document in breach of paragraph 42 or 43 of Schedule 36 to the Finance Act 2008 as applied by (as the case may be) paragraph 6(3) or 10(4).
5
Paragraphs 44 to 49 and 52 of Schedule 36 to the Finance Act 2008 (penalties: liability, assessment, appeals and enforcement) apply in relation to a penalty under sub-paragraph (2) or (3) as they apply in relation to a penalty under paragraph 39 or 40 of that Schedule, except that the reference in paragraph 46(3) to an information notice has effect as a reference to a notice under paragraph 6(2) or 10(2) of this Schedule.
6
In sub-paragraph (1)(d) “the tribunal” means the First-tier Tribunal or, where determined by or under Tribunal Procedure Rules, the Upper Tribunal.