# Finance Act 2001, Paragraph 3: Notification of loss or prospective loss of registrability


(1) A person who, having become liable to give a notification by virtue of paragraph 1 above, ceases (whether before or after being registered) to have the intention of carrying out taxable activities shall notify the Commissioners of that fact.
(2) A person who fails to comply with sub-paragraph (1) above shall be liable to a penalty of £250.

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Source: https://www.legislation.gov.uk/ukpga/2001/9/schedule/4/paragraph/3 (the official version)
Page: https://openlegislation.uk/finance-act-2001/schedule-4/paragraph-3
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.