Published on 21 February 2022

ISA Compliance and Penalties

Submissions

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

a calculator with the word 'PENALTY' typed on it. next to the calculator a pair of glasses and a pen can be seen. the background is paperwork.
Fox_Ana / Shutterstock.com

Content on this page:

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.

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