Penalties
44Penalties for providing inaccurate information or documents
(1)
A person is liable to a penalty under this section if—
(a)
in complying with a notice under section 26, the person provides inaccurate information or provides a document that contains an inaccuracy, and
(b)
condition A, B or C is met.
(2)
Condition A is that the inaccuracy is careless or deliberate.
An inaccuracy is careless if it is due to a failure by the person to take reasonable care.
(3)
Condition B is that the person knows of the inaccuracy at the time the information or document is provided but does not inform HMRC at that time.
(4)
Condition C is that the person—
(a)
discovers the inaccuracy some time later, and
(b)
fails to take reasonable steps to inform HMRC.
(5)
The amount of a penalty under this section may not exceed £3,000.
(6)
Regulations may amend subsection (5) so as to substitute a different amount for the amount for the time being specified there.