This section has no associated Explanatory Notes
[F157C(1)This paragraph applies if a return under paragraph 52, or any information accompanying such a return—U.K.
(a)is given otherwise than in accordance with paragraph 52A, or
(b)contains a material inaccuracy—
(i)which is careless or deliberate, or
(ii)which is not corrected as required by paragraph 52(7).
(2)The company is liable for a penalty of an amount decided by HMRC.
(3)The penalty must not exceed £5,000.
(4)For the purposes of sub-paragraph (1)(b)(i) an inaccuracy is careless if it is due to a failure by the company to take reasonable care.]
Textual Amendments
F1Sch. 5 paras. 57A-57E and cross-heading inserted (6.4.2014) by Finance Act 2014 (c. 26), Sch. 8 paras. 220, 222