# Finance Act 1994, Paragraph 17

Extent: E+W+S+N.I.

(1) If a person fails to comply with—
(a) section 53(3) of this Act,
(b) ...or
(c) a requirement imposed by any regulations made under this Part of this Act, other than a requirement falling within sub-paragraph (2) below,
he shall be liable to a penalty of £250; but this is subject to sub-paragraphs (3) and (4) below.
(2) A requirement falls within this sub-paragraph if it is—
(a) a requirement imposed by regulations made under section 54 of this Act to pay the tax due in respect of any period within the time required by the regulations,
(b) a requirement imposed by regulations made under that section to furnish a return in respect of any period within the time required by the regulations,
(c) a requirement imposed by regulations made under section 65 of this Act to pay tax within the time required by the regulations, or
(d) a requirement specified for the purposes of this sub-paragraph by regulations.
(3) A failure falling within sub-paragraph (1) above shall not give rise to liability to a penalty under this paragraph if the person concerned satisfies the Commissioners or, on appeal, an appeal tribunal that there is a reasonable excuse for the failure.
(4) Where by reason of a failure falling within sub-paragraph (1) above—
(a) a person is convicted of an offence (whether under this Part of this Act or otherwise), or
(b) a person is assessed to a penalty under paragraph 12 above or to a penalty for a deliberate inaccuracy under Schedule 24 to the Finance Act 2007 (penalties for errors) ,
that failure shall not also give rise to liability to a penalty under this paragraph.
(5) If it appears to the Treasury that there has been a change in the value of money since the passing of this Act or, as the case may be, the last occasion when the power conferred by this sub-paragraph was exercised, they may by order substitute for the sum for the time being specified in sub-paragraph (1) above such other sum as appears to them to be justified by the change.
(6) An order under sub-paragraph (5) above shall not apply in relation to a failure which began before the date on which the order comes into force.

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Source: https://www.legislation.gov.uk/ukpga/1994/9/schedule/7/paragraph/17 (the official version)
Page: https://openlegislation.uk/finance-act-1994/schedule-7/paragraph-17
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.