- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Pwynt Penodol mewn Amser (11/05/2001)
- Gwreiddiol (Fel y'i Deddfwyd)
Version Superseded: 22/07/2004
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Taxes Management Act 1970, Section 95 is up to date with all changes known to be in force on or before 11 September 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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(1)Where a person fraudulently or negligently—
(a)delivers any incorrect return of a kind mentioned in [F1section 8 or 8A of this Act (or either of those sections] as extended by section 12 of this Act F2... , or
(b)makes any incorrect return, statement, or declaration in connection with any claim for any allowance, deduction or relief in respect of income tax or capital gains tax, or
(c)submits to an inspector or the Board or any Commissioners any incorrect accounts in connection with the ascertainment of his liability to income tax or capital gains tax,
he shall be liable to a penalty not exceeding [F3the amount of the difference specified in subsection (2) below.]
(2)The difference is that between—
(a)the amount of income tax and capital gains tax payable for the relevant years of assessment by the said person (including any amount of income tax deducted at source and not repayable), and
(b)the amount which would have been the amount so payable if the return, statement, declaration or accounts as made or submitted by him had been correct.
(3)The relevant years of assessment for the purposes of this section are, in relation to anything delivered, made or submitted in any year of assessment, that, the next following, and any preceding year of assessment; F4...
Textual Amendments
F1Words in s. 95(1)(a) substituted (with effect in accordance with s. 199(2)(3) of the amending Act) by Finance Act 1994 (c. 9), Sch. 19 para. 27(1); S.I. 1998/3173, art. 2
F2 Repealed by Finance Act 1988 (c. 39), s. 148and Sch. 14 Part VIIIfor 1990-91and subsequent years.
F3Finance Act 1989 (c. 26), s. 163(1)(a)in relation to returns, statements, declarations or accounts delivered, made or submitted on or after 27 July 1989.
F4Words in s. 95(3) repealed (with effect in accordance with s. 199(2)(3) of the amending Act) by Finance Act 1994 (c. 9), Sch. 19 para. 27(2), Sch. 26 Pt. 5(23); S.I. 1998/3173, art. 2
Modifications etc. (not altering text)
C1S. 95 extended by Finance Act 1991 (c. 31),, s. 33(3)(d)
C2S. 95 modified by 1988 c. 1, Sch. 6A Pt. II para. 8(4) (as inserted (27.7.1993 with effect for the year 1993-94 and subsequent years of assessment) by 1993 c. 34, s. 73, Sch. 4 paras.7, 8)
C3 See—Income and Corporation Taxes Act 1988 (c. 1), Sch. 14 para. 7(3)(d)—application of s. 95to sums claimed under s. 266(5)(b)to which the claimant was not entitled.Finance Act 1989 (c. 26), s. 57(3)—application of s. 95(3)to medical insurance relief.
C4S. 95: power to apply conferred (1.5.1995) by Finance Act 1995 (c. 4), s. 73(4)(d)
C5S. 95 applied (with modifications) (E.W.) (1.4.2000) by Education (Student Loans) (Repayment) Regulations 2000 (S.I. 2000/944), regs. 1(1), 26(3)
C6S. 95 applied (N.I.) (1.4.2000) by The Education (Student Loans) (Repayment) Regulations (Northern Ireland) 2000 (S.R. 2000/121), regs. 1, 26(3)
C7 See S.I. 1986/1948, reg. 11(3)and S.I. 1989/469 reg. 9—application of s. 95to individual applications to subscribe to personal equity plans.
C8 See Finance Act 1988 (c. 39), s. 35and Sch. 3 paras. 27and28—married couples.
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