SCHEDULES
SCHEDULE 4... CSOP schemes
F1PART 7Notification of schemes, annual returns and enquiries
Notices and returns to be given electronically etc
28E
(1)
This paragraph applies if a return under paragraph 28B, or any information accompanying such a return—
(a)
is given otherwise than in accordance with paragraph 28D, or
(b)
contains a material inaccuracy—
(i)
which is careless or deliberate, or
(ii)
which is not corrected as required by paragraph 28B(11).
(2)
The scheme organiser is liable for a penalty of an amount decided by HMRC.
(3)
The penalty must not exceed £5,000.
(4)
For the purposes of sub-paragraph (1)(b)(i) an inaccuracy is careless if it is due to a failure by the scheme organiser to take reasonable care.