PART 5PENALTIES
CHAPTER 3PENALTIES FOR INACCURACIES
Penalties for inaccuracies in documents
132Penalty for deliberate inaccuracy in document given to WRA by another person
(1)
A person (referred to in this section as “person A”) is liable to a penalty where—
(a)
another person gives WRA a document,
(b)
the document contains a relevant inaccuracy, and
(c)
the inaccuracy was attributable—
(i)
to person A deliberately supplying false information to the other person (whether directly or indirectly), or
(ii)
to person A deliberately withholding information from the other person,
with the intention of the document containing the inaccuracy.
(2)
A “relevant inaccuracy” is an inaccuracy which amounts to, or leads to—
(a)
an understatement of a liability to a devolved tax,
(b)
a false or inflated statement of a loss relating to a devolved tax, F1...
(c)
a false or inflated claim to repayment of devolved tax F2, or
(d)
a false or inflated claim for a tax credit.
(3)
Person A is liable to a penalty under this section in respect of an inaccuracy whether or not the other person is liable to a penalty under section 129 in respect of the same inaccuracy.
(4)
The penalty payable under this section is F3an amount not exceeding 100% of the potential lost revenue.