PART 5PENALTIES
CHAPTER 2PENALTIES FOR FAILURE TO MAKE RETURNS OR PAY TAX OR AMOUNTS PAYABLE IN RESPECT OF TAX CREDITS
F1Penalty points and penalties for failures to make visitor levy returns
120BFinancial penalty where penalty points have been awarded
(1)
If, having been awarded a penalty point, a VAP reaches the penalty threshold, the VAP is liable to a penalty of £100.
(2)
The penalty threshold is—
(a)
if the VAP makes annual returns, two penalty points, and
(b)
if the VAP makes quarterly returns, four penalty points.
(3)
A VAP that becomes liable to a penalty under subsection (1) remains liable to that penalty regardless of the subsequent expiry of any of the penalty points awarded to the VAP.