SCHEDULES
C1SCHEDULE 24Penalties for errors
Part 4Miscellaneous
Companies: officers' liability
I119
1
Where a penalty under paragraph 1 is payable by a company for a deliberate inaccuracy which was attributable to an officer of the company—
a
the officer as well as the company shall be liable to pay the penalty, and
b
HMRC may pursue the officer for such portion of the penalty (which may be 100%) as they may specify by written notice to the officer.
2
Sub-paragraph (1) does not allow HMRC to recover more than 100% of a penalty.
3
In the application of sub-paragraph (1) to a body corporate “officer” means—
a
a director (including a shadow director within the meaning of section 251 of the Companies Act 2006 (c. 46)), or
b
a secretary.
4
In the application of sub-paragraph (1) in any other case “officer” means—
a
a director,
b
a manager,
c
a secretary, and
d
any other person managing or purporting to manage any of the company's affairs.
5
A reference to P in this Schedule (including paragraph 15) includes a reference to an officer of the company who is liable for a portion of the penalty in accordance with this paragraph.
Sch. 24 applied (N.I.) (1.4.2008) by The Education (Student Loans) (Repayment) Regulations (Northern Ireland) 2000 (S.R. 2000/121), regs. 7(2A)(b), 26(4) (as amended by S.R. 2008/129, regs. 1, 3(a), 4)