Section 43 Penalties under TMA 1970

Section 98 of TMA 1970 (special returns, etc) is amended as follows.

In the first column of the table insert at the appropriate place— “ section 40(1) of the Finance Act 2005 ”.

In the second column of the table insert at the appropriate place— “ section 37(3) of the Finance Act 2005; ”, and “ section 37(6) of the Finance Act 2005; ”.

For the purposes of that section, any information, statements or declarations given or made jointly by F1the trustees of a settlement and a vulnerable person are to be treated as given or made by the trustees.