170 Up-rating of certain penalties.U.K.
[(1)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”.]
(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(4)In—
(a). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(b). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(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 Finance 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.
Textual Amendments
Marginal Citations