# Finance Act 2007, Paragraph 1

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

(1) A penalty is payable by a person (P) where—
(a) P gives HMRC a document of a kind listed in the Table below, and
(b) Conditions 1 and 2 are satisfied.
(2) Condition 1 is that the document contains an inaccuracy which amounts to, or leads to—
(a) an understatement of a liability to tax,
(b) a false or inflated statement of a loss ..., or
(c) a false or inflated claim to repayment of tax.
(3) Condition 2 is that the inaccuracy was careless (within the meaning of paragraph 3) or deliberate on P’s part.
(4) Where a document contains more than one inaccuracy, a penalty is payable for each inaccuracy.
Tax
Document
Income tax or capital gains tax
Return under section 8 of TMA 1970 (personal return).
Income tax or capital gains tax
Return under section 8A of TMA 1970 (trustee's return).
Income tax or capital gains tax
Return, statement or declaration in connection with a claim for an allowance, deduction or relief.
Income tax or capital gains tax
Accounts in connection with ascertaining liability to tax.
Income tax or capital gains tax
Partnership return.
Income tax or capital gains tax
Statement or declaration in connection with a partnership return.
Income tax or capital gains tax
Accounts in connection with a partnership return.
Apprenticeship levy
Return under regulations under section 105 of FA 2016.
Capital gains tax
Return under Schedule 2 to FA 2019.
Income tax
Return under section 254 of FA 2004.
Income tax
Return for the purposes of PAYE regulations.
Construction industry deductions
Return for the purposes of regulations under section 70(1)(a) of FA 2004 in connection with deductions on account of tax under the Construction Industry Scheme.
Corporation tax
Company tax return under paragraph 3 of Schedule 18 to FA 1998.
Corporation tax
Return, statement or declaration in connection with a claim for an allowance, deduction or relief.
Corporation tax
Accounts in connection with ascertaining liability to tax.
Digital services tax
DST return under paragraph 2 of Schedule 8 to FA 2020.
Multinational top-up tax
Overseas return notification and information provided with it
Multinational top-up tax
Self-assessment return and information provided with it
Multinational top-up tax
Below-threshold notification and information provided with it
Domestic top-up tax
Overseas return notification and information provided with it
Domestic top-up tax
Self-assessment return and information provided with it
Domestic top-up tax
Self-assessment return and information provided with it
VAT
Below-threshold notification and information provided with it
VAT
Return, statement or declaration in connection with a claim.
. . .
. . .
Insurance premium tax
Return under regulations under section 54 of FA 1994.
Insurance premium tax
Return, statement or declaration in connection with a claim.
Inheritance tax
Account under section 216 or 217 of IHTA 1984.
Inheritance tax
Information or document under regulations under section 256 of IHTA 1984.
Inheritance tax
Statement or declaration in connection with a deduction, exemption or relief.
Stamp duty land tax
Return under section 76 of FA 2003.
Stamp duty reserve tax
Return under regulations under section 98 of FA 1986.
Annual tax on enveloped dwellings
Annual tax on enveloped dwellings return.
Annual tax on enveloped dwellings
Return of adjusted chargeable amount.
Petroleum revenue tax
Return under paragraph 2 of Schedule 2 to the Oil Taxation Act 1975.
Petroleum revenue tax
Statement or declaration in connection with a claim under paragraph 13A of Schedule 2 to the Oil Taxation Act 1975.
Petroleum revenue tax
Statement or declaration in connection with a claim under Schedule 5, 6, 7 or 8 to the Oil Taxation Act 1975.
Petroleum revenue tax
Statement under section 1(1)(a) of the Petroleum Revenue Tax Act 1980.
Plastic packaging tax
Return under regulations under section 61 of FA 2021.
Soft drinks industry levy
Return under regulations under section 52 of FA 2017
Aggregates levy
Return under regulations under section 25 of FA 2001.
Climate change levy
Return under regulations under paragraph 41 of Schedule 6 to FA 2000.
Carbon border adjustment mechanism
Return under paragraph 7 of Schedule 17 to FA 2026.
Landfill tax
Return under regulations under section 49 of FA 1996.
Air passenger duty
Return under section 38 of FA 1994.
. . .
. . .
Alcohol duty
Statement or declaration in connection with a claim for repayment of duty under section 75 of F(No. 2)A 2023.
Alcohol duty
Return under regulations under section 88 of F(No. 2)A 2023.
Tobacco products duty
Return under regulations under section 7 of the Tobacco Products Duties Act 1979.
Vaping products duty
Vaping products duty return.
Hydrocarbon oil duties
Return under regulations under section 21 of the Hydrocarbon Oil Duties Act 1979.
Excise duties
Return under regulations under section 93 of CEMA 1979.
Excise duties
Return under regulations under section 100G or 100H of CEMA 1979.
Excise duties
Statement or declaration in connection with a claim.
General betting duty
Return under regulations under section 166 of FA 2014.
Pool betting duty
Return under regulations under section 166 of FA 2014.
Bingo duty
Return under regulations under paragraph 9 of Schedule 3 to BGDA 1981.
Lottery duty
Return under regulations under section 28(2) of FA 1993.
Gaming duty
Return under directions under paragraph 10 of Schedule 1 to FA 1997.
Remote gaming duty
Return under regulations under section 166 of FA 2014.
Machine games duty
Return under regulations under paragraph 18 of Schedule 24 to FA 2012
Any of the taxes mentioned above
Any document which is likely to be relied upon by HMRC to determine, without further inquiry, a question about—
(a)P's liability to tax,
(b)payments by P by way of or in connection with tax,
(c)any other payment by P (including penalties), or
(d)repayments, or any other kind of payment or credit, to P.
(4A) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(4B) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(4C) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(5) In relation to a return under paragraph 2 of Schedule 2 to the Oil Taxation Act 1975 or a statement or declaration under paragraph 13A of that Schedule, references in this Schedule to P include any person who, after the giving of the return for a taxable field (within the meaning of that Act), becomes the responsible person for the field (within the meaning of that Act).

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Source: https://www.legislation.gov.uk/ukpga/2007/11/schedule/24/paragraph/1 (the official version)
Page: https://openlegislation.uk/finance-act-2007/schedule-24/paragraph-1
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.