# Finance Act 2007, Paragraph 1A


(1) A penalty is payable by a person (T) where—
(a) another person (P) gives HMRC a document of a kind listed in the Table in paragraph 1,
(b) the document contains a relevant inaccuracy, and
(c) the inaccuracy was attributable to T deliberately supplying false information to P (whether directly or indirectly), or to T deliberately withholding information from P, with the intention of the document containing the inaccuracy.
(2) A “relevant inaccuracy” is 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) A penalty is payable under this paragraph in respect of an inaccuracy whether or not P is liable to a penalty under paragraph 1 in respect of the same inaccuracy.

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