Paragraph 2 I1

A person who fails to comply with a requirement imposed under section 53(2)(a) is liable to a penalty.

The amount of the penalty is equal to £200 multiplied by the number of days on which the failure continues (up to a maximum of 30 days).

A person who fails to comply with a requirement imposed under section 53(3)(b) is liable to a penalty of £500.

If by reason of conduct falling within sub-paragraph (1) or (3) a person is assessed to a penalty for a deliberate inaccuracy under Schedule 24 to FA 2007, that conduct does not also give rise to a penalty under this paragraph.