SCHEDULES

C2C9C7C1C6C4C5C8C3SCHEDULE 55Penalty for failure to make returns etc

Annotations:
Modifications etc. (not altering text)
C2

Sch. 55 modified (8.4.2010) by Finance Act 2010 (c. 13), Sch. 1 para. 38

C1

Sch. 55 applied (with modifications) by S.I. 2001/1004, Sch. 4 para. 21G (as inserted (with effect in accordance with reg. 1(3) of the amending S.I.) by The Social Security (Contributions) (Amendment No. 4) Regulations 2014 (S.I. 2014/2397), regs. 1(1), 3(5))

C6

Sch. 55 applied (with modifications) by 1992 c. 4, s. 11A(1)(3) (as inserted (with effect in accordance with Sch. 1 para. 35 of the amending Act) by National Insurance Contributions Act 2015 (c. 5), Sch. 1 para. 3)

C4

Sch. 55 applied (with modifications) by 1992 c.7 (N.I.), s. 11A(1)(3) (as inserted (with effect in accordance with Sch. 1 para. 35 of the amending Act) by National Insurance Contributions Act 2015 (c. 5), Sch. 1 para. 12)

C5

Sch. 55 applied (with modifications) (with application in accordance with reg. 1 of the amending S.I.) by The Education (Postgraduate Masters Degree Loans) Regulations 2016 (S.I. 2016/606), regs. 1(1), 50(1)(2)

C8

Sch. 55 modified (temp.) (with effect in accordance with Sch. 10 para. 43 of the amending Act) by Finance Act 2022 (c. 3), Sch. 10 para. 26 (as amended (5.1.2023) by S.I. 2022/1321, regs. 1, 2(2)

Amount of penalty: CIS returns

I3I1I2I411

1

P is liable to a penalty under this paragraph if (and only if) P's failure continues after the end of the period of 12 months beginning with the penalty date.

2

Where, by failing to make the return, P F2deliberately withholds information which would enable or assist HMRC to assess the amount that P is liable to pay to HMRC in accordance with Chapter 3 of Part 3 of FA 2004, the penalty under this paragraph is determined in accordance with sub-paragraphs (3) and (4).

3

If the withholding of the information is deliberate and concealed, the penalty is the greater of—

a

100% of any liability to make payments which would have been shown in the return in question, and

b

£3,000.

4

If the withholding of the information is deliberate but not concealed, the penalty is the greater of—

a

70% of any liability to make payments which would have been shown in the return in question, and

b

£1,500.

5

In F1any other caseF1any case not falling within sub-paragraph (2), the penalty under this paragraph is the greater of—

a

5% of any liability to make payments which would have been shown in the return in question, and

b

£300.