Section 170 Up-rating of certain penalties.

United Kingdom

F1(1)

In section 23(8) of the Taxes Act 1988 (maximum penalty for agents failing to make certain payments on behalf of principals), for “£50” there shall be substituted “£300”.

F2(2)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F3(3)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(4)

In—

F4(a)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(b)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(c)

section 658(5) of that Act (maximum penalty for false statements or representations relating to purchased life annuities),

for “£500” there shall be substituted “£3,000”.

(5)

In paragraph 2(4) of Schedule 19A to that Act and Schedule 16A to the M1Finance Act 1973 (maximum penalty for incorrect return byLloyd’s agent), for the words “£500 in the case of fraud and £250 in the case of negligence” there shall be substituted “£3,000”.

(6)

This section shall apply in relation to things done or omitted on or after the day on which this Act is passed.

Annotations

Textual amendments

F1: S. 170(1) repealed (1.5.1995 with effect as mentioned in s. 39(4)(5) of the amending Act) by 1995 c. 4, s. 162, Sch. 29 Pt. VIII(1), note
F2: S. 170(2) repealed (16.7.1992 with effect in accordance with s. 32 of the repealing Act) by Finance (No. 2) Act 1992 (c. 48), ss. 32, 82, Sch. 18 Pt. VII(4)
F3: S. 170(3) repealed (6.4.2007) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 3 Pt. 2 (with Sch. 2)
F4: S. 170(4)(a)(b) repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3 (with Sch. 36)

Marginal citations

M1: 1973 c. 51.