# Tax Collection and Management (Wales) Act 2016, Section 138: Potential lost revenue: delayed tax


(1) Where an inaccuracy resulted in an amount of WRA-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.

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Source: https://www.legislation.gov.uk/anaw/2016/6/section/138 (the official version)
Page: https://openlegislation.uk/tax-collection-and-management-wales-act-2016/section-138
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.