Section 138 Potential lost revenue: delayed taxI1
(1)
Where an inaccuracy resulted in an amount of F1WRA-collected tax being declared later than it should have been (“the delayed tax”), the potential lost revenue is—
(a)
5% of the delayed tax for each year of the delay;
(b)
a percentage of the delayed tax, for each period of delay of less than a year, equating to 5% per year.
(2)
This section does not apply to a case to which section 137 applies.
Annotations
Textual amendments
- F1
Word in Act substituted (19.9.2025) by Visitor Accommodation (Register and Levy) Etc. (Wales) Act 2025 (asc 5), s. 67(1), Sch. 2 para. 21
Commencement
- I1
S. 138 in force at 1.4.2018 by S.I. 2018/33, art. 3
Notes on the whole Act
Textual amendments
- F1
Word in Act substituted (19.9.2025) by Visitor Accommodation (Register and Levy) Etc. (Wales) Act 2025 (asc 5), s. 67(1), Sch. 2 para. 21