http://www.legislation.gov.uk/id/asp/2014/16

PART 8Penalties

CHAPTER 2Penalties for failure to make returns or pay tax

Amounts of penalties for failure to pay tax: LBTT

169Land and buildings transaction tax: amounts of penalties for failure to pay tax

(1)

This section applies in the case of a payment of tax falling within item 1 of the table in section 168.

(2)

P is liable to a penalty of 5% of the unpaid tax.

(3)

If any amount of the tax is unpaid after the end of the period of 5 months beginning with the penalty date, P is liable to a penalty of 5% of that amount.

(4)

If any amount of the tax is unpaid after the end of the period of 11 months beginning with the penalty date, P is liable to a penalty of 5% of that amount.