Finance Act 1975

Penalties

28 (1) Subject to sub-paragraph (2) below, any person who—

(a) fails to deliver an account under paragraph 2 or 3 above ; or

(b) fails to make a return under paragraph 4 above ; or

(c) fails to comply with a notice under paragraph 5 above; or

(d) fails to comply with a notice under paragraph 9(2) above:

shall be liable to a penalty not exceeding £50 and, if the failure continues after it has been declared by a court or the Special Commissioners, to a further penalty not exceeding £10 for each day on which it continues.

(2) A person shall not be liable to a penalty under this paragraph for a failure which is remedied before proceedings in which the failure could be declared are commenced; and where a person has a reasonable excuse for the failure he shall not be liable to a penalty under this paragraph unless he fails to remedy it without unreasonable delay after the excuse has ceased.

29 A person who, after being duly summoned under paragraph 9(3) above, neglects or refuses to appear before the Special Commissioners at the time and place appointed for that purpose or refuses to be sworn or to answer any lawful question concerning the matters under consideration shall be liable to a penalty not exceeding £50.

30 (1) If any person liable for any tax on the value transferred by a chargeable transfer fraudulently or negligently delivers, furnishes or produces to the Board any incorrect account, information or document, he shall be liable, in the case of fraud, to a penalty not exceeding the aggregate of £50 and twice the difference mentioned in sub-paragraph (2) below and, in the case of negligence, to a penalty not exceeding the aggregate of £50 and that difference.

(2) The difference referred to in sub-paragraph (1) above is the amount by which the tax for which that person is liable exceeds what would be the amount of that tax if the facts were as shown in the account, information or document

(3) Any person not liable for tax on the value transferred by a chargeable transfer who fraudulently or negligently furnishes or produces to the Board any incorrect information or document in connection with the transfer shall be liable, in the case of fraud, to a penalty not exceeding £500, and in the case of negligence to a penalty not exceeding £250.

(4) Any person who assists in or induces the delivery, furnishing or production in pursuance of this Schedule of any account, information or document which he knows to be incorrect shall be liable to a penalty not exceeding £500.

31 (1) If after any account, information or document has been delivered, furnished or produced by any person without fraud or negligence it comes to his notice that it was incorrect in any material respect it shall be treated for the purposes of paragraph 30 above as having been negligently delivered, furnished or produced unless the error is remedied without unreasonable delay.

(2) If after any account, information or document has been delivered, furnished or produced by any person in pursuance of this Schedule it comes to the notice of any other person that it contains an error whereby tax for which that other person is liable has been or might be underpaid, that other person shall inform the Board of the error ; and if he fails to do so without unreasonable delay he shall be liable to the penalty to which he would be liable under paragraph 30 above if the account, information or document had been delivered, furnished or produced by him and the case were one of negligence.