Legislation – Finance Act 2026
Changes to legislation:
Finance Act 2026, Section 195 is up to date with all changes known to be in force on or before 17 April 2026. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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Changes and effects yet to be applied to Section 195:
- Pt. 15 excluded by S.I. 2026/331 reg. 19
Changes and effects yet to be applied to the whole Act associated Parts and Chapters:
Whole provisions yet to be inserted into this Act (including any effects on those provisions):
- Pt. 15 excluded by S.I. 2026/331 reg. 19
Part 6Avoidance
Chapter 3Anti-avoidance information notices
Civil sanctions
195Penalty for concealing information
(1)
A recipient of an information notice is liable to a penalty if the recipient—
(a)
is required to provide information under the notice issued, and
(b)
conceals, destroys or otherwise disposes of the information—
(i)
before the information has been provided in accordance with the notice, or
(ii)
in circumstances where an officer of Revenue and Customs has notified the person in writing that the information must continue to be available (and has not withdrawn that notification).
(2)
A person is liable to a penalty if—
(a)
an officer of Revenue and Customs has notified the person under section 180(3) that—
(i)
the officer intends to issue an information notice to the person, and
(ii)
certain information would be required under the notice, and
(b)
the person conceals, destroys or otherwise disposes of the information.
(3)
Subsection (2) does not apply if the person concealed, destroyed or otherwise disposed of the information only—
(a)
after the end of the period of 6 months beginning with the day on which they were last notified under section 180(3) in respect of the information, or
(b)
after an information notice has been issued to the person in respect of the information.
(4)
The penalty under subsection (1) or (2) is—
(a)
in relation to a notice under section 183 (financial institutions), £300, or
(b)
otherwise, £20,000.
(5)
In this section, a reference to concealing, destroying or otherwise disposing of information includes a reference to arranging for the concealment, destruction or disposal of information.