# Taxes Management Act 1970, Paragraph 12

Extent: E+W+S+N.I.

(1) This paragraph applies where requirements imposed by regulations under paragraph 11 for any period are not complied with.
(2) The person, or in the case of a partnership each relevant partner, is liable for a penalty.
(3) “Relevant partner” means any person who was a partner in the partnership at any time during the period in question.
(4) The amount of the penalty must not exceed £3,000.
(5) A person or relevant partner is not liable to a penalty under this paragraph in relation to a period if the person or relevant partner is liable to a penalty under section 12B(5) in relation to that period.

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Source: https://www.legislation.gov.uk/ukpga/1970/9/schedule/A1/paragraph/12 (the official version)
Page: https://openlegislation.uk/taxes-management-act-1970/schedule-A1/paragraph-12
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.