Income Tax (Earnings and Pensions) Act 2003

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[F140E(1)This paragraph applies if a return under paragraph 40B, or any information accompanying such a return—U.K.

(a)is given otherwise than in accordance with paragraph 40D, or

(b)contains a material inaccuracy—

(i)which is careless or deliberate, or

(ii)which is not corrected as required by paragraph 40B(11).

(2)The scheme organiser is liable for a penalty of an amount decided by HMRC.

(3)The penalty must not exceed £5,000.

(4)For the purposes of sub-paragraph (1)(b)(i) an inaccuracy is careless if it is due to a failure by the scheme organiser to take reasonable care.]

Textual Amendments