Paragraph 16

on summary conviction, to a penalty of F1the statutory maximum £20,000 or of three times the amount of the tax, whichever is the greater, or to imprisonment for a term not exceeding six months or to both;

on conviction on indictment, to a penalty of any amount or to imprisonment for a term not exceeding F214 years or to both.

the amount (if any) falsely claimed by way of credit, and

the amount (if any) by which the gross amount of tax was falsely understated.

on summary conviction, to a penalty of F3the statutory maximum £20,000 (or, where sub-paragraph (4) below applies, to the alternative penalty there specified if it is greater) or to imprisonment for a term not exceeding six months or to both;

on conviction on indictment, to a penalty of any amount or to imprisonment for a term not exceeding F414 years or to both.

the document referred to in paragraph 15(3) above is a return required under this Part of this Act, or

the information referred to in paragraph 15(4) above is contained in or otherwise relevant to such a return,

on summary conviction, to a penalty of F5the statutory maximum £20,000 (or, if greater, three times the amount of any tax that was or was intended to be evaded by his conduct) or to imprisonment for a term not exceeding six months or to both;

on conviction on indictment, to a penalty of any amount or to imprisonment for a term not exceeding F614 years or to both;

“credit” means credit for which provision is made by regulations under section 51 of this Act;

“the gross amount of tax” means the total amount of tax due before taking into account any deduction for which provision is made by regulations under section 51(2) of this Act.