Inheritance Tax Act 1984, Section 240A is up to date with all changes known to be in force on or before 05 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.
(1)This section applies for the purposes of section 240.
(2)A loss of tax is brought about carelessly by a person if the person fails to take reasonable care to avoid bringing about that loss.
(3)Where—
(a)information is provided to Her Majesty's Revenue and Customs,
(b)the person who provided the information, or the person on whose behalf the information was provided, discovers some time later that the information was inaccurate, and
(c)that person fails to take reasonable steps to inform Her Majesty's Revenue and Customs,
any loss of tax brought about by the inaccuracy is to be treated as having been brought about carelessly by that person.
(4)References to a loss of tax brought about deliberately by a person include a loss of tax brought about as a result of a deliberate inaccuracy in a document given to Her Majesty's Revenue and Customs by or on behalf of that person.]
Textual Amendments
F1S. 240A inserted (1.4.2011) by Finance Act 2009 (c. 10), s. 99, Sch. 51 para. 12; S.I. 2010/867, art. 2(2)
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
All content is available under the Open Government Licence v3.0 except where otherwise stated. This site additionally contains content derived from EUR-Lex, reused under the terms of the Commission Decision 2011/833/EU on the reuse of documents from the EU institutions. For more information see the EUR-Lex public statement on re-use.
