http://www.legislation.gov.uk/ukpga/1997/58/schedule/2/paragraph/2/2007-04-06Finance (No. 2) Act 1997An Act to grant certain duties, to alter other duties, and to amend the law relating to the National Debt and the Public Revenue, and to make further provision in connection with Finance.1997-07-31texttext/xmlenStatute Law Database2024-04-02Expert Participation2007-04-06 SCHEDULESSCHEDULE 2 Administration and collection of windfall tax Notification of liability and failure to make return21If a chargeable company has not, before 1st December 1997, either—agiven notice to the Board that it is a chargeable company, orbbeen required by a notice under paragraph 1(1) above to deliver a return to the Board,that company shall be liable to a penalty of an amount not exceeding the amount of the windfall tax with which it is charged.2A company which—ahas been required by a notice under sub-paragraph (1) of paragraph 1 above to deliver a return to the Board, andbfails to deliver the required return in accordance with that paragraph,shall be liable to the penalties set out in sub-paragraph (3) below.3Those penalties are—aa penalty of £3,000;bin a case where the required return has not been delivered by the end of three months from the relevant time, a penalty (in addition to the penalty under paragraph (a) above) of an amount not exceeding 10 per cent. of the amount of windfall tax with which that company is charged; andcin a case where the required return has not been delivered by the end of six months from the relevant time, a penalty (in addition to the penalties under paragraphs (a) and (b) above) of an amount not exceeding 20 per cent. of the amount of windfall tax with which that company is charged.4In sub-paragraph (3) above “the relevant time”, in relation to the delivery of a return, means the time by which that return should under paragraph 1(2) above have been delivered.
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<Title> SCHEDULES</Title>
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<Title> Administration and collection of windfall tax</Title>
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<Pblock DocumentURI="http://www.legislation.gov.uk/ukpga/1997/58/schedule/2/crossheading/notification-of-liability-and-failure-to-make-return/2007-04-06" IdURI="http://www.legislation.gov.uk/id/ukpga/1997/58/schedule/2/crossheading/notification-of-liability-and-failure-to-make-return" NumberOfProvisions="1" RestrictStartDate="1997-07-31" id="schedule-2-crossheading-notification-of-liability-and-failure-to-make-return">
<Title> Notification of liability and failure to make return</Title>
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<Pnumber>2</Pnumber>
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<Text>If a chargeable company has not, before 1st December 1997, either—</Text>
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<Text>given notice to the Board that it is a chargeable company, or</Text>
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<Text>been required by a notice under paragraph 1(1) above to deliver a return to the Board,</Text>
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<Text>that company shall be liable to a penalty of an amount not exceeding the amount of the windfall tax with which it is charged.</Text>
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<Pnumber>2</Pnumber>
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<Text>A company which—</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1997/58/schedule/2/paragraph/2/2/a/2007-04-06" IdURI="http://www.legislation.gov.uk/id/ukpga/1997/58/schedule/2/paragraph/2/2/a" id="schedule-2-paragraph-2-2-a">
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<Text>fails to deliver the required return in accordance with that paragraph,</Text>
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<Text>Those penalties are—</Text>
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<Text>a penalty of £3,000;</Text>
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<Text>in a case where the required return has not been delivered by the end of three months from the relevant time, a penalty (in addition to the penalty under paragraph (a) above) of an amount not exceeding 10 per cent. of the amount of windfall tax with which that company is charged; and</Text>
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<Pnumber>c</Pnumber>
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<Text>in a case where the required return has not been delivered by the end of six months from the relevant time, a penalty (in addition to the penalties under paragraphs (a) and (b) above) of an amount not exceeding 20 per cent. of the amount of windfall tax with which that company is charged.</Text>
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<Text>
In sub-paragraph (3) above “
<Term id="term-the-relevant-time">the relevant time</Term>
”, in relation to the delivery of a return, means the time by which that return should under paragraph 1(2) above have been delivered.
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