Amount of penalty for failure to pay annual or occasional amounts
6.Paragraph 3(1) defines the taxes to which this penalty model applies by referring to items in the Table.
7.Paragraph 3(2) provides that a person is liable to a penalty of 5 per cent of the amount of tax unpaid. This penalty is incurred if a taxpayer fails to pay the tax in full by the date provided for in column 4 of the Table. This date is normally 30 days after the due date for the tax.
8.Paragraph 3(3) states that any person who has tax unpaid five months after the penalty date is liable to an additional penalty of 5 per cent of the remaining unpaid tax.
9.Paragraph 3(4) states that any person who has tax unpaid eleven months after the penalty date is liable to an additional penalty of 5 per cent of the remaining unpaid tax.
10.Paragraph 4(1) applies the provisions of this paragraph to CT, whether payable under the Quarterly Instalment Payments scheme or not. Separate provisions are required for CT as the penalty dates are different. The first penalty date for CT is the day after the filing date for the CT return rather than the day after the due date for the tax, which is usually three months earlier.
11.Paragraph 4(2) states that any person who has tax unpaid the day after the filing date for CT is liable to a penalty of 5 per cent of the amount unpaid.
12.Paragraph 4(3) states that any person who has tax unpaid three months after the penalty date is liable to an additional penalty of 5 per cent of the remaining unpaid tax.
13.Paragraph 4(4) states that any person who has tax unpaid nine months after the penalty date is liable to an additional penalty of 5 per cent of the remaining unpaid tax.
