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Modifications etc. (not altering text)
C1Sch. 55 modified (8.4.2010) by Finance Act 2010 (c. 13), Sch. 1 para. 38
2U.K.Paragraphs 3 to 6 apply in the case of a return falling within any of items 1 to 5 and 7 to 13 in the Table.
Commencement Information
I1Sch. 55 para. 2 in force at 1.4.2011 for specified purposes and 6.4.2011 for specified purposes by S.I. 2011/702, art. 2 (with art. 1(2))
3U.K.P is liable to a penalty under this paragraph of £100.
Commencement Information
I2Sch. 55 para. 3 in force at 1.4.2011 for specified purposes and 6.4.2011 for specified purposes by S.I. 2011/702, art. 2 (with art. 1(2))
4(1)P is liable to a penalty under this paragraph if (and only if)—U.K.
(a)P's failure continues after the end of the period of 3 months beginning with the penalty date,
(b)HMRC decide that such a penalty should be payable, and
(c)HMRC give notice to P specifying the date from which the penalty is payable.
(2)The penalty under this paragraph is £10 for each day that the failure continues during the period of 90 days beginning with the date specified in the notice given under sub-paragraph (1)(c).
(3)The date specified in the notice under sub-paragraph (1)(c)—
(a)may be earlier than the date on which the notice is given, but
(b)may not be earlier than the end of the period mentioned in sub-paragraph (1)(a).
Commencement Information
I3Sch. 55 para. 4 in force at 1.4.2011 for specified purposes and 6.4.2011 for specified purposes by S.I. 2011/702, art. 2 (with art. 1(2))
5(1)P is liable to a penalty under this paragraph if (and only if) P's failure continues after the end of the period of 6 months beginning with the penalty date.U.K.
(2)The penalty under this paragraph is the greater of—
(a)5% of any liability to tax which would have been shown in the return in question, and
(b)£300.
Commencement Information
I4Sch. 55 para. 5 in force at 1.4.2011 for specified purposes and 6.4.2011 for specified purposes by S.I. 2011/702, art. 2 (with art. 1(2))
6(1)P is liable to a penalty under this paragraph if (and only if) P's failure continues after the end of the period of 12 months beginning with the penalty date.U.K.
(2)Where, by failing to make the return, P[F1deliberately] withholds information which would enable or assist HMRC to assess P's liability to tax, the penalty under this paragraph is determined in accordance with sub-paragraphs (3) and (4).
(3)If the withholding of the information is deliberate and concealed, the penalty is the greater of—
(a)100% of any liability to tax which would have been shown in the return in question, and
(b)£300.
(4)If the withholding of the information is deliberate but not concealed, the penalty is the greater of—
(a)70% of any liability to tax which would have been shown in the return in question, and
(b)£300.
(5)In [F2any other case] [F2any case not falling within sub-paragraph (2)] , the penalty under this paragraph is the greater of—
(a)5% of any liability to tax which would have been shown in the return in question, and
(b)£300.
Textual Amendments
F1Word in Sch. 55 para. 6(2) inserted (1.4.2011 for specified purposes, 6.4.2011 for specified purposes, 12.2.2019 for specified purposes) by Finance (No. 3) Act 2010 (c. 33), s. 26(2), Sch. 10 para. 4(2); S.I. 2011/703, art. 2(a)(b); 2019 c. 1, s. 67(2)
F2Words in Sch. 55 para. 6(5) substituted (1.4.2011 for specified purposes, 6.4.2011 for specified purposes, 12.2.2019 for specified purposes) by Finance (No. 3) Act 2010 (c. 33), s. 26(2), Sch. 10 para. 4(3); S.I. 2011/703, art. 2(a)(b); 2019 c. 1, s. 67(2)
Commencement Information
I5Sch. 55 para. 6 in force at 1.4.2011 for specified purposes by S.I. 2011/702, art. 2 (with art. 1(2))