Failure to deliver return: tax-related penalty
4(1)A purchaser who is required to deliver a land transaction return in respect of a chargeable transaction and fails to do so within twelve months after the filing date is liable to a tax-related penalty under this paragraph.
This is in addition to any flat-rate penalty under paragraph 3.
(2)The penalty is an amount not exceeding the amount of tax chargeable in respect of the transaction.