1In this Schedule—
(a)references to a self-certificate are to a certificate by the purchaser that no land transaction return is required in respect of the transaction, and
(b)references to the date on which a self-certificate was produced are to the date on which it was produced to the registrar (in Scotland, to the Keeper of the Registers of Scotland).
2(1)A self-certificate must—
(a)be in the prescribed form,
(b)contain the prescribed information, and
(c)include a declaration by the purchaser (or each of them) that the certificate is to the best of his knowledge correct and complete.
(2)In sub-paragraph (1) “prescribed” means prescribed by regulations made by the Inland Revenue.
(3)The regulations may make different provision for different kinds of self-certificate.
3(1)A person who—
(a)fraudulently or negligently gives a self-certificate in respect of a chargeable transaction, or
(b)discovers that a transaction in respect of which he has given a self-certificate (neither fraudulently nor negligently) is a chargeable transaction and does not remedy the error without unreasonable delay,
is liable to a tax-related penalty.
(2)The penalty is an amount not exceeding the amount of tax chargeable in respect of the transaction.