96Incorrect return or accounts for corporation tax.U.K.
(1)Where a company fraudulently or negligently—
(a)delivers any incorrect return under section 11 of this Act (or under that section as extended by section 12 of this Act), or
(b)makes any incorrect return, statement or declaration in connection with any claim for any allowance, deduction or relief in respect of corporation tax, or
(c)submits to an inspector or any Commissioners any incorrect accounts in connection with the ascertainment of the company’s liability to corporation tax,
the company shall be liable to a penalty not exceeding [the amount of the difference specified in subsection (2) below F1.]
(2)The difference is that between—
(a)the amount of corporation tax payable by the said company for the accounting period or accounting periods comprising the period to which the return, statement, declaration or accounts relate, and
(b)the amount which would have been the amount so payable if the return, statement, declaration or accounts had been correct.
Textual Amendments
F1Finance Act 1989 (c. 26), s. 163(1)(b)in relation to returns, statements, declarations or accounts delivered, made or submitted on or after 27 July 1989.
Modifications etc. (not altering text)
C1 See also Finance Act 1988 (c. 39), ss. 131-132—tax payable by migrating companies.