Revenue Scotland and Tax Powers Act 2014 (asp 16)

PART 8 S Penalties

CHAPTER 3 S Penalties relating to inaccuracies

Penalties under Chapter 3: general S

190 Potential lost revenue: delayed tax S

(1) Where an inaccuracy resulted in an amount of tax being declared later than it should have been (“the delayed tax”), the potential lost revenue is—

(a) 5% of the delayed tax for each year of the delay, or

(b) a percentage of the delayed tax, for each separate period of delay of less than a year, equating to 5% per year.

(2) This section does not apply to a case to which section 189 applies.

Commencement Information

I1 S. 190 in force at 1.4.2015 by S.S.I. 2015/110, art. 2(1)