Section 248 Failure to remedy errors.
United Kingdom
If after any F1. . . information or document has been . . . furnished or produced by any person without fraud or negligence it comes to his notice that it was incorrect in any material respect it shall be treated for the purposes of section 247 above as having been negligently . . . furnished or produced unless the error is remedied without unreasonable delay.
If after any account, information or document has been delivered, furnished or produced by any person in pursuance of this Part of this Act it comes to the notice of any other person that it contains an error whereby tax for which that other person is liable has been or might be underpaid, that other person shall inform the Board of the error; and if he fails to do so without unreasonable delay he shall be liable to the penalty to which he would be liable F2. . . if the account, information or document had been delivered, furnished or produced by him and the case were one of negligence.
Annotations
Textual amendments
- F1
Words in s. 248(1) omitted (1.4.2009) by virtue of Finance Act 2008 (c. 9), s. 122, Sch. 40 para. 21(c)(ii); S.I. 2009/571, art. 2
- F2
Words in s. 248(2) omitted (1.4.2009) by virtue of Finance Act 2008 (c. 9), s. 122, Sch. 40 para. 21(c)(ii); S.I. 2009/571, art. 2
Notes on the whole Act
Textual amendments
- F1
By Finance Act 1986 s. 100(1), on and after 25 July 1986 the Capital Transfer Tax Act 1984 may be cited as the Inheritance Tax Act 1984.