(1)Section 88 of the M1Taxes Management Act 1970 (intereston tax recovered to make good loss due to taxpayer’s fault) shall be amendedas follows.
(2)In subsection (1), for the words “the fraud, wilful default or neglectof any person” there shall be substituted the words—
“(a)a failure to give a notice, make a return or produce or furnish a documentor other information required by or under the Taxes Acts, or
(b)an error in any information, return, accounts or other document deliveredto an inspector or other officer of the Board,”.
(3)The following subsection shall be added at the end—
“(7)In paragraph (a) of subsection (1) above the reference to a failure to dosomething includes, in relation to anything required to be done at aparticular time or within a particular period, a reference to a failure to doit at that time or within that period; and, accordingly, section 118(2) ofthis Act shall not apply for the purposes of that paragraph.”
(4)This section shall have effect in relation to failures occurring, anderrors in any information or documents delivered, on or after the day on whichthis Act is passed.]
Textual Amendments
F1S. 159 repealed (29.4.1996 with effect as specified in Sch. 18 para. 17 of the amending Act) by 1996 c. 8, s. 205, Sch. 41 Pt. V(8), note
Marginal Citations