- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Pwynt Penodol mewn Amser (01/04/2018)
- Gwreiddiol (Fel y'i Deddfwyd)
Point in time view as at 01/04/2018.
There are currently no known outstanding effects for the Finance Act 1996, Paragraph 22.
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22(1)If a person—U.K.
F1(a). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(b)fails to make records as required by any provision of regulations made under paragraph 2 [F2or 2A] above,
he is liable to a penalty of £250; but this is subject to sub-paragraph (4) below.
(2)Where—
(a)a penalty (an initial penalty) is imposed on a person under sub-paragraph (1) above, and
(b)the failure which led to the initial penalty continues after its imposition,
he is (subject to sub-paragraph (4) below) liable to a further penalty of £20 for each day during which (or any part of which) the failure continues after the day on which the initial penalty was imposed.
(3)A person [F3who—
(a)fails to preserve records in compliance with any provision of regulations made under paragraph 2 (read with that paragraph and any direction given under the regulations), or
(b)fails to preserve records in compliance with any provision of regulations made under paragraph 2A (read with that paragraph and any direction given under the regulations),
is liable] to a penalty of £250; but this is subject to sub-paragraph (4) below.
(4)Where by reason of a failure falling within sub-paragraph (1) or (3) above—
(a)a person is convicted of an offence (whether under this Part of this Act or otherwise), or
(b)a person is assessed to a penalty under paragraph 18 above [F4or a penalty for a deliberate inaccuracy under Schedule 24 to the Finance Act 2007 (penalties for errors)] [F5or a penalty under Schedule 41 to the Finance Act 2008 (penalties: failure to notify and certain VAT and excise wrongdoing)],
that failure shall not also give rise to liability to a penalty under this paragraph.
Textual Amendments
F1Sch. 5 para. 22(1)(a) and word omitted (1.4.2010) by virtue of The Finance Act 2009, Section 96 and Schedule 48 (Appointed Day, Savings and Consequential Amendments) Order 2009 (S.I. 2009/3054), art. 1, Sch. para. 7(b) (with art. 6)
F2Words in Sch. 5 para. 22(1)(b) inserted (with effect in accordance with Sch. 15 para. 8 of the amending Act) by Finance Act 2015 (c. 11), Sch. 15 para. 7(5)(a)
F3Words in Sch. 5 para. 22(3) substituted (with effect in accordance with Sch. 15 para. 8 of the amending Act) by Finance Act 2015 (c. 11), Sch. 15 para. 7(5)(b)
F4Words in Sch. 5 para. 22(4) inserted (1.4.2009) by The Finance Act 2008, Schedule 40 (Appointed Day, Transitional Provisions and Consequential Amendments) Order 2009 (S.I. 2009/571), art. 1(1), Sch. 1 para. 19
F5Words in Sch. 5 para. 22(4)(b) inserted (1.4.2010) by The Finance Act 2008 (Penalties for Errors and Failure to Notify etc) (Consequential Amendments) Order 2010 (S.I. 2010/530), art. 1, Sch. para. 6(b)
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