Point in time view as at 06/04/2010.
Finance Act 2007, Paragraph 1A is up to date with all changes known to be in force on or before 06 March 2025. 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.
[F11A(1)A penalty is payable by a person (T) where—U.K.
(a)another person (P) gives HMRC a document of a kind listed in the Table in paragraph 1,
(b)the document contains a relevant inaccuracy, and
(c)the inaccuracy was attributable to T deliberately supplying false information to P (whether directly or indirectly), or to T deliberately withholding information from P, with the intention of the document containing the inaccuracy.
(2)A “relevant inaccuracy” is an inaccuracy which amounts to, or leads to—
(a)an understatement of a liability to tax,
(b)a false or inflated statement of a loss, or
(c)a false or inflated claim to repayment of tax.
(3)A penalty is payable under this paragraph in respect of an inaccuracy whether or not P is liable to a penalty under paragraph 1 in respect of the same inaccuracy.]
Textual Amendments
F1Sch. 24 para. 1A and cross-heading inserted (1.4.2009) by Finance Act 2008 (c. 9), s. 122(2), Sch. 40 para. 3; S.I. 2009/571, art. 2
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