- Latest available (Revised)
- Original (As enacted)
This is the original version (as it was originally enacted).
(1)Where a company fraudulently or negligently—
(a)delivers any incorrect return under section 11 of this Act (or under that section as extended by section 12 of this Act), or
(b)makes any incorrect return, statement or declaration in connection with any claim for any allowance, deduction or relief in respect of corporation tax, or
(c)submits to an inspector or any Commissioners any incorrect accounts in connection with the ascertainment of the company's liability to corporation tax,
the company shall be liable to a penalty not exceeding the aggregate of—
(i)£50, and
(ii)the amount, or, in the case of fraud, twice the amount, of the difference specified in subsection (2) below.
(2)The difference is that between—
(a)the amount of corporation tax payable by the said company for the accounting period or accounting periods comprising the period to which the return, statement, declaration or accounts relate, and
(b)the amount which would have been the amount so payable if the return, statement, declaration or accounts had been correct.
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: