Emanuele Greco

Hi, I’m trying to understand what happens if a broker or financial platform doesn’t report interest earned (outside of ISAs) to HMRC, particularly when the amount is above the Personal Savings Allowance but still below £10,000 — so a Self Assessment return is not required. If the tax year ends (or is about to end) and HMRC hasn’t been informed by the platform, hence the tax code hasn't been automatically adjusted, who is responsible for making sure that income is correctly reported — me or the broker? And if it goes unnoticed and is discovered in future years, are there penalties for me to pay?