Paragraph 81E F1

(1)

This paragraph applies if a return under paragraph 81B, or any information accompanying such a return—

(a)

is given otherwise than in accordance with paragraph 81D, or

(b)

contains a material inaccuracy—

(i)

which is careless or deliberate, or

(ii)

which is not corrected as required by paragraph 81B(11).

(2)

The company is liable for a penalty of an amount decided by HMRC.

(3)

The penalty must not exceed £5,000.

(4)

For the purposes of sub-paragraph (1)(b)(i) an inaccuracy is careless if it is due to a failure by the company to take reasonable care.

Annotations

F1: Sch. 2 Pt. 10 substituted (6.4.2014) by Finance Act 2014 (c. 26), Sch. 8 paras. 28, 89 (with Sch. 8 paras. 90-96)

F1: Word in Sch. 2 title omitted (6.4.2014) by virtue of Finance Act 2014 (c. 26), Sch. 8 paras. 14, 89 (with Sch. 8 paras. 90-96)