# Finance Act 2016, Paragraph 24


(1) This paragraph applies where paragraph 22 requires a company tax strategy to be published for a UK company in any financial year.
(2) The company is liable to a penalty of £7,500 if—
(a) there is a failure to publish a company tax strategy for the company that complies with paragraph 22(2), or
(b) where a company tax strategy has been published, there is a failure to comply with paragraph 22(6).
(3) Subject to sub-paragraph (5), the company is only liable to one penalty by virtue of sub-paragraph (2) in respect of a company tax strategy required for the financial year in question.
(4) Sub-paragraph (5) applies where—
(a) a penalty is imposed under this paragraph in respect of a failure mentioned in sub-paragraph (2)(a), and
(b) no company tax strategy that complies with paragraph 22(2) (disregarding paragraph 22(4)) is published within the period of 6 months after the last day on which the duty under paragraph 22(2) could have been complied with.
(5) At the end of that period, the company is liable—
(a) to a further penalty of £7,500, and
(b) where the failure mentioned in sub-paragraph (4)(b) continues, to a further penalty of £7,500 at the end of each subsequent month in which no such company tax strategy is published.

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Source: https://www.legislation.gov.uk/ukpga/2016/24/schedule/19/paragraph/24 (the official version)
Page: https://openlegislation.uk/finance-act-2016/schedule-19/paragraph-24
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.