PART 5PENALTIES

CHAPTER 2PENALTIES FOR FAILURE TO MAKE RETURNS OR PAY TAX OR AMOUNTS PAYABLE IN RESPECT OF TAX CREDITS

Penalty for failure to make devolved tax return

120Penalty for failure to make F1devolved tax return within 12 months from filing date

(1)

A person F2who is required to make a F3devolved tax return is liable to a penalty if the person's failure to make a F3devolved tax return continues after the end of the period of 12 months beginning with the day after the filing date.

(2)

Where, by failing to make the F4devolved tax return, the person deliberately withholds information which would enable or assist WRA to assess the person's liability to a devolved tax, the penalty is F5—

(a)

£300, or

(b)

a greater amount, not exceeding 95% of the amount of devolved tax to which the person would have been liable if the tax return had been made.

(3)

In any case not falling within subsection (2), the penalty is the greater of—

(a)

5% of the amount of the devolved tax to which the person would have been liable if the tax return had been made, and

(b)

£300.