Finance Act 2000

41(1)The Commissioners may by regulations make provision—U.K.

[F1(a)for persons liable to account for levy to do so—

(i)by reference to such periods (“accounting periods”) as may be determined by or under the regulations, or

(ii)in such other way as may be so determined;]

(b)for persons who are or are required to be registered for the purposes of the levy to be subject to such obligations to make returns for those purposes for such periods, at such times and in such form as may be so determined; and

(c)for persons who are required to account for levy F2... to become liable to pay the amounts due from them at such times and in such manner as may be so determined.

(2)Without prejudice to the generality of the powers conferred by sub-paragraph (1), regulations under this paragraph may contain provision—

(a)for levy falling in accordance with the regulations to be accounted for by reference to one accounting period to be treated in prescribed circumstances, and for prescribed purposes, as levy due for a different period;

(b)for the correction of errors made when accounting for levy by reference to any period;

(c)for the entries to be made in any accounts in connection with the correction of any such errors and for the financial adjustments to be made in that connection;

(d)for a person, for purposes connected with the making of any such entry or financial adjustment, to be required to provide to any prescribed person, or to retain, a document in the prescribed form containing prescribed particulars of the matters to which the entry or adjustment relates;

(e)for enabling the Commissioners, in such cases as they may think fit, to dispense with or relax a requirement imposed by regulations made by virtue of paragraph (d);

(f)for the amount of levy which, in accordance with the regulations, is treated as due for a later period than that by reference to which it should have been accounted for to be treated as increased by an amount representing interest at the rate applicable under section 197 of the Finance Act 1996 for such period as may be determined in accordance with the regulations.

[F3(2A)Paragraph 91(5) provides for the application of Part 7 of this Schedule (recovery and interest) in relation to cases where, by virtue of regulations under sub-paragraph (1)(a)(ii) above [F4or by virtue of paragraph 45B(8)], a person is liable to account for levy otherwise than by reference to accounting periods.

(2B)Regulations under this paragraph may provide for the application of any provision of this Schedule in relation to such cases.]

(3)Subject to the following provisions of this paragraph, if any person (“the taxpayer”) fails—

(a)to comply with so much of any regulations under this paragraph as requires him, at or before a particular time, to make a return for any accounting period, or

(b)to comply with so much of any regulations under this paragraph as requires him, at or before a particular time, to pay an amount of levy due from him,

he shall be liable to a penalty of £250.

(4)Liability to a penalty under sub-paragraph (3) shall not arise if the taxpayer satisfies the Commissioners or, on appeal, an appeal tribunal—

(a)that there is a reasonable excuse for the failure to make the return or to pay the levy in accordance with the regulations; and

(b)that there is not an occasion after the last day on which the return or payment was required by the regulations to be made when there was a failure without a reasonable excuse to make it.

(5)Where, by reason of any failure falling within paragraph (a) or (b) of sub-paragraph (3)—

(a)a person is convicted of an offence (whether under this Schedule or otherwise), or

(b)a person is assessed to a penalty under paragraph 98 (penalty for evasion) [F5or to a penalty for a deliberate inaccuracy under Schedule 24 to the Finance Act 2007 (penalties for errors)],

that person shall not, by reason of that failure, be liable also to a penalty under that sub-paragraph (3).

Textual Amendments

F1Sch. 6 para. 41(1)(a) substituted (10.7.2003) by Finance Act 2003 (c. 14), s. 192(2)(a)

F2Words in Sch. 6 para. 41(1)(c) repealed (10.7.2003) by Finance Act 2003 (c. 14), s. 192(2)(b), Sch. 43 Pt. 4(2)

F3Sch. 6 para. 41(2A), (2B) inserted (10.7.2003) by Finance Act 2003 (c. 14), s. 192(2)(c)

F4Words in Sch. 6 para. 41(2A) inserted (with effect in accordance with s. 118(2) of the amending Act) by Finance Act 2009 (c. 10), Sch. 59 para. 4