Part II Income Tax, Corporation Tax and Capital Gains Tax
CHAPTER IV Management
Penalties
170 Up-rating of certain penalties.
F11
In section 23(8) of the Taxes Act 1988 (maximum penalty for agents failing to make certain payments on behalf of principals), for “£50” there shall be substituted “£300”.
F22
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F43
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4
In—
F3a
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F3b
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c
section 658(5) of that Act (maximum penalty for false statements or representations relating to purchased life annuities),
for “£500” there shall be substituted “£3,000”.
5
In paragraph 2(4) of Schedule 19A to that Act and Schedule 16A to the M1Finance Act 1973 (maximum penalty for incorrect return byLloyd’s agent), for the words “£500 in the case of fraud and £250 in the case of negligence” there shall be substituted “£3,000”.
6
This section shall apply in relation to things done or omitted on or after the day on which this Act is passed.