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Finance Act 2007

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Changes over time for: Cross Heading: Error in taxpayer's document attributable to another person

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Finance Act 2007, Cross Heading: Error in taxpayer's document attributable to another person is up to date with all changes known to be in force on or before 14 February 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

[F1Error in taxpayer's document attributable to another personU.K.

Textual Amendments

F1Sch. 24 para. 1A and cross-heading inserted (1.4.2009) by Finance Act 2008 (c. 9), s. 122(2), Sch. 40 para. 3; S.I. 2009/571, art. 2

1A(1)A penalty is payable by a person (T) where—U.K.

(a)another person (P) gives HMRC a document of a kind listed in the Table in paragraph 1,

(b)the document contains a relevant inaccuracy, and

(c)the inaccuracy was attributable to T deliberately supplying false information to P (whether directly or indirectly), or to T deliberately withholding information from P, with the intention of the document containing the inaccuracy.

(2)A “relevant inaccuracy” is an inaccuracy which amounts to, or leads to—

(a)an understatement of a liability to tax,

(b)a false or inflated statement of a loss, or

(c)a false or inflated claim to repayment of tax.

(3)A penalty is payable under this paragraph in respect of an inaccuracy whether or not P is liable to a penalty under paragraph 1 in respect of the same inaccuracy.]

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