7.—(1) A pension payer which does not deliver a return in accordance with regulation 4 is liable to a penalty of the amount set out in paragraph (2).
(2) Where a pension payer fails to deliver such a return and the number of relevant beneficiaries in the period to which the return relates is—
(a)no more than 9, the penalty is £100,
(b)at least 10 but no more than 49, the penalty is £200,
(c)at least 50 but no more than 249, the penalty is £300, and
(d)at least 250, the penalty is £400.
(3) Paragraphs 6C(1) to (6), 6D, 16, 18(1) to (4), 19 to 23, 26 and 27 of Schedule 55 to the Finance Act 2009(1) apply in relation to penalties under this regulation.
2009 c. 10. Paragraphs 6C and 6D were inserted by paragraph 6 of Schedule 50 to the Finance Act 2013 (c. 29) and paragraphs 19 and 27 were amended respectively by paragraphs 8(2) and 9(2) and (3) of that Schedule.