PART 5PENALTIES
CHAPTER 3PENALTIES FOR INACCURACIES
Penalties for inaccuracies in documents
I1132Penalty for deliberate inaccuracy in document given to WRA by another person
1
A person (referred to in this section as “person A”) is liable to a penalty where—
a
another person gives WRA a document,
b
the document contains a relevant inaccuracy, and
c
the inaccuracy was attributable—
i
to person A deliberately supplying false information to the other person (whether directly or indirectly), or
ii
to person A deliberately withholding information from the other person,
with the intention of the document containing the inaccuracy.
2
A “relevant inaccuracy” is an inaccuracy which amounts to, or leads to—
a
an understatement of a liability to a devolved tax,
b
a false or inflated statement of a loss relating to a devolved tax, F2...
c
a false or inflated claim to repayment of devolved tax F3, or
d
a false or inflated claim for a tax credit.
3
Person A is liable to a penalty under this section in respect of an inaccuracy whether or not the other person is liable to a penalty under section 129 in respect of the same inaccuracy.
4
The penalty payable under this section is F1an amount not exceeding 100% of the potential lost revenue.