SCHEDULES
SCHEDULE 12Construction industry scheme: consequential amendments
Special penalties in the case of certain returns
8
1
Section 98A of the Taxes Management Act 1970 is amended as follows.
2
In subsection (1)
(regulations which may provide for section 98A to apply) for “section 566 (1)
(sub-contractors) of the principal Act” substitute “
section 70(1)(a) or 71 of the Finance Act 2004 (sub-contractors)
”
.
3
In subsection (2)(b) (penalty for failure to make return continuing beyond 12 months)—
a
after “not exceeding” insert—
i
in the case of a provision of PAYE regulations,
b
at the end insert
, or
ii
in the case of a provision of regulations under section 70(1)(a) or 71 of the Finance Act 2004, £3,000.
4
In subsection (4)(a)
(penalty for fraudulently or negligently making incorrect return) after “year of assessment” insert “
(in the case of a provision of PAYE regulations) or period (in the case of a provision of regulations under section 70(1)(a) or 71 of the Finance Act 2004)
”
.