120Penalty for failure to make tax return within 12 months from filing dateE+W
(1)A person [F1who is required to make a tax return] is liable to a penalty if the person's failure to make a tax return continues after the end of the period of 12 months beginning with the day after the filing date.
(2)Where, by failing to make the tax return, the person deliberately withholds information which would enable or assist WRA to assess the person's liability to a devolved tax, the penalty is [F2—
(a)£300, or
(b)a greater amount, not exceeding 95% of the amount of devolved tax to which the person would have been liable if the tax return had been made.]
(3)In any case not falling within subsection (2), the penalty is the greater of—
(a)5% of the amount of the devolved tax to which the person would have been liable if the tax return had been made, and
(b)£300.
Textual Amendments
F1Words in s. 120(1) inserted (1.4.2018) by Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 (anaw 1), s. 81(2)(3), Sch. 23 para. 41(a); S.I. 2018/34, art. 3
F2Words in s. 120(2) substituted (1.4.2018) by Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 (anaw 1), s. 81(2)(3), Sch. 23 para. 41(b); S.I. 2018/34, art. 3
Commencement Information
I1S. 120 in force at 1.4.2018 by S.I. 2018/33, art. 3