Textual Amendments
F1Words in heading to Sch. 1 inserted (6.4.1999) by S.I. 1998/1506 (N.I. 10), art. 78(1), Sch. 6 para. 58(1); S.R. 1998/312, art. 2(d), Sch. Pt. III
F2Words in Sch. 1 heading substituted (12.10.2015) by Pensions Act 2014 (c. 19), s. 56(1), Sch. 15 para. 21; S.I. 2015/1670, art. 2(b)
[F37A(1)This paragraph applies where paragraph 7 above applies; and in this paragraph “contributions return” has the same meaning as in that paragraph.N.I.
(2)Without prejudice to paragraph 7(2) above or to the [F4other] powers of the Inland Revenue to penalise omissions or errors in returns, regulations [F5made by the Treasury] may provide for the [F6Inland Revenue] to impose penalties in respect of a person who, in making a contributions return, fraudulently or negligently—
(a)fails to provide any information or computation that he is required to provide; or
(b)provides any such information or computation that is incorrect.
(3)Regulations under sub-paragraph (2) above shall—
(a)prescribe the rates of penalty, or provide for how they are to be ascertained;
(b)provide for the penalty to be imposed by the [F7Inland Revenue] within 6 years after the date on which the penalty is incurred;
(c)provide for determining the date on which, for the purposes of paragraph (b) above, the penalty is incurred;
(d)prescribe the means by which the penalty is to be enforced; and
(e)provide for enabling the [F8Inland Revenue, in their] discretion, to mitigate or to remit the penalty, or to stay or to compound any proceedings for it.]
Textual Amendments
F3Sch. 1 para. 7A inserted (10.3.1999 for specified purposes and 6.4.1999 otherwise) by S.I. 1998/1506 (N.I. 10), art. 53(2); S.R. 1999/102, art. 2(b), Sch. Pt. II
F4Word in Sch. 1 para. 7A(2) inserted (26.3.1999 for specified purposes and 1.4.1999 otherwise) by S.I. 1999/671, art. 24(2), Sch. 8 para. 4(2)(a) (with savings and transitional provisions in Sch. 7); S.R. 1999/149, art. 2(b)(c), Schs. 1, 2 (subject to arts. 3-6)
F5Words in Sch. 1 para. 7A(2) inserted (1.4.1999) by S.I. 1999/671, art. 4, Sch. 3 para. 36 (with savings and transitional provisions in Sch. 7); S.R. 1999/149, art. 2(c), Sch. 2 (subject to arts. 3-6)
F6Words in Sch. 1 para. 7A(2) substituted (26.3.1999 for specified purposes and 1.4.1999 otherwise) by S.I. 1999/671, art. 24(2), Sch. 8 para. 4(2)(b) (with savings and transitional provisions in Sch. 7); S.R. 1999/149, art. 2(b)(c), Schs. 1, 2 (subject to arts. 3-6)
F7Words in Sch. 1 para. 7A(3)(b) substituted (26.3.1999 for specified purposes and 1.4.1999 otherwise) by S.I. 1999/671, art. 24(2), Sch. 8 para. 4(3)(a) (with savings and transitional provisions in Sch. 7); S.R. 1999/149, art. 2(b)(c), Schs. 1, 2 (subject to arts. 3-6)
F8Words in Sch. 1 para. 7A(3)(e) substituted (26.3.1999 for specified purposes and 1.4.1999 otherwise) by S.I. 1999/671, art. 24(2), Sch. 8 para. 4(3)(b) (with savings and transitional provisions in Sch. 7); S.R. 1999/149, art. 2(b)(c), Schs. 1, 2 (subject to arts. 3-6)