ISA Compliance and Penalties

Published on 21 February 2022

LITRG has responded to HMRC’s call for evidence on Individual Savings Accounts: Compliance and Penalties.

Illustration of a man, loudspeaker and penalty notice
(c) Vector Bird / Shutterstock.com

We explain briefly why ISAs are common among low-income and unrepresented taxpayers, how ISA rules may be unwittingly breached by those individuals, and the fairness of penalties and sanctions applying in that situation.

The response can be found here.

LITRG also publishes guidance aimed at low-income and unrepresented taxpayers on ISAs.

Contact: Tom Henderson (click here to Contact Us)
First published: 21/02/22

 

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