SCHEDULES

C2C9C7C1C6C4C5C8C3SCHEDULE 55Penalty for failure to make returns etc

Annotations:
Modifications etc. (not altering text)
C2

Sch. 55 modified (8.4.2010) by Finance Act 2010 (c. 13), Sch. 1 para. 38

C1

Sch. 55 applied (with modifications) by S.I. 2001/1004, Sch. 4 para. 21G (as inserted (with effect in accordance with reg. 1(3) of the amending S.I.) by The Social Security (Contributions) (Amendment No. 4) Regulations 2014 (S.I. 2014/2397), regs. 1(1), 3(5))

C6

Sch. 55 applied (with modifications) by 1992 c. 4, s. 11A(1)(3) (as inserted (with effect in accordance with Sch. 1 para. 35 of the amending Act) by National Insurance Contributions Act 2015 (c. 5), Sch. 1 para. 3)

C4

Sch. 55 applied (with modifications) by 1992 c.7 (N.I.), s. 11A(1)(3) (as inserted (with effect in accordance with Sch. 1 para. 35 of the amending Act) by National Insurance Contributions Act 2015 (c. 5), Sch. 1 para. 12)

C5

Sch. 55 applied (with modifications) (with application in accordance with reg. 1 of the amending S.I.) by The Education (Postgraduate Masters Degree Loans) Regulations 2016 (S.I. 2016/606), regs. 1(1), 50(1)(2)

C8

Sch. 55 modified (temp.) (with effect in accordance with Sch. 10 para. 43 of the amending Act) by Finance Act 2022 (c. 3), Sch. 10 para. 26 (as amended (5.1.2023) by S.I. 2022/1321, regs. 1, 2(2)

F3Amount of penalty: occasional returns and annual returnsF3Amount of penalty: occasional returns and returns for periods of 6 months or more

Annotations:
Amendments (Textual)
F3

Sch. 55 para. 2 and cross-heading substituted (12.2.2019 for the purposes of soft drinks industry levy) by Finance (No. 3) Act 2010 (c. 33), s. 26(2), Sch. 10 para. 3; 2019 c. 1, s. 67(2)

I2I4I1I36

1

P is liable to a penalty under this paragraph if (and only if) P's failure continues after the end of the period of 12 months beginning with the penalty date.

2

Where, by failing to make the return, P F4deliberately withholds information which would enable or assist HMRC to assess P's liability to tax, the penalty under this paragraph is determined in accordance with sub-paragraphs (3) and (4).

3

If the withholding of the information is deliberate and concealed, the penalty is the greater of—

a

100% of any liability to tax which would have been shown in the return in question, and

b

£300.

F53A

For the purposes of sub-paragraph (3)(a), the relevant percentage is—

a

for the withholding of category 1 information, F2the relevant percentage,

b

for the withholding of category 2 information, 150%, and

c

for the withholding of category 3 information, 200%.

4

If the withholding of the information is deliberate but not concealed, the penalty is the greater of—

a

F8the relevant percentage of any liability to tax which would have been shown in the return in question, and

b

£300.

F14A

For the purposes of sub-paragraph (4)(a), the relevant percentage is—

a

for the withholding of category 1 information, 70%,

b

for the withholding of category 2 information, 105%, and

c

for the withholding of category 3 information, 140%.

5

In F7any other caseF7any case not falling within sub-paragraph (2), the penalty under this paragraph is the greater of—

a

5% of any liability to tax which would have been shown in the return in question, and

b

£300.

F66

Paragraph 6A explains the 3 categories of information.