PART 8Penalties

CHAPTER 2Penalties for failure to make returns or pay tax

Amounts of penalties for failure to make returns: LBTT

162Land and buildings transaction tax: 6 month penalty for failure to make return

1

P is liable to a penalty under this section if (and only if) P’s failure continues after the end of the period of 6 months beginning with the penalty date.

2

The penalty under this section is the greater of—

a

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

b

£300.