Section 421JD Penalty if information not given correctlyF1 F2

(1)

This section applies if a return under section 421JA, or any information accompanying such a return—

(a)

is given otherwise than in accordance with section 421JB, or

(b)

contains a material inaccuracy—

(i)

which is careless or deliberate, or

(ii)

which is not corrected as required by section 421JA(6).

(2)

The person in question is liable for a penalty of an amount decided by HMRC.

(3)

The penalty must not exceed £5,000.

(4)

For the purposes of subsection (1)(b)(i) an inaccuracy is careless if it is due to a failure by the person in question to take reasonable care.

Annotations

F1: Pt. 7 Ch. 1 substituted (with effect in accordance with Sch. 22 para. 2(2) of the amending Act) by Finance Act 2003 (c. 14), Sch. 22 para. 2(1)
F2: Ss. 421JA-421JF inserted (with effect in accordance with Sch. 8 para. 234 of the amending Act) by Finance Act 2014 (c. 26), Sch. 8 paras. 228, 232

F1: Pt. 7 heading substituted (with effect in accordance with Sch. 22 para. 2(2) of the amending Act) by Finance Act 2003 (c. 14), Sch. 22 para. 2(1)

C1: Pt. 7: power to modify conferred (7.4.2005) by Finance Act 2005 (c. 7), s. 21(8)-(10)