# Finance Act 2008, Paragraph 40A

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

(1) This paragraph applies if—
(a) in complying with an information notice, a person provides inaccurate information or produces a document that contains an inaccuracy, and
(b) condition A, B or C is met.
(2) Condition A is that the inaccuracy is careless or deliberate.
(3) An inaccuracy is careless if it is due to a failure by the person to take reasonable care.
(3A) Condition B is that the person knows of the inaccuracy at the time the information is provided or the document produced but does not inform HMRC at that time.
(4) Condition C is that the person—
(a) discovers the inaccuracy some time later, and
(b) fails to take reasonable steps to inform HMRC.
(5) The person is liable to a penalty not exceeding £3,000.
(6) Where the information or document contains more than one inaccuracy, a penalty is payable for each inaccuracy.

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Source: https://www.legislation.gov.uk/ukpga/2008/9/schedule/36/paragraph/40A (the official version)
Page: https://openlegislation.uk/finance-act-2008/schedule-36/paragraph-40A
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.