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Tax Collection and Management (Wales) Act 2016

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133Penalty for failure to notify under-assessment or under-determinationE+W
This section has no associated Explanatory Notes

(1)A person is liable to a penalty where—

(a)a WRA assessment understates the person's liability to a devolved tax, and

(b)the person has failed to take reasonable steps to notify WRA, within the period of 30 days beginning with the day on which the notice of assessment is issued, that it is an under-assessment.

[F1(1A)A person is also liable to a penalty where—

(a)a WRA assessment under section 55A understates the amount that the person is required to pay to WRA, and

(b)the person has failed to take reasonable steps to notify WRA, within the period of 30 days beginning with the day on which the notice of assessment is issued, that it is an under-assessment.]

(2)In deciding what steps (if any) were reasonable, WRA must consider whether the person knew, or should have known, about the under-assessment.

(3)The penalty payable under this section is [F2an amount not exceeding] 30% of the potential lost revenue.

(4)In this section—

(a)WRA assessment” includes a determination made by WRA under section 52, and

(b)accordingly, references in this Chapter to an under-assessment include references to an under-determination.

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