SCHEDULES

C1SCHEDULE 55Penalty for failure to make returns etc

Annotations:
Modifications etc. (not altering text)
C1

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

Amount of penalty: CIS returns

I112

1

P is liable to a penalty under this paragraph if (and only if)—

a

P's failure continues after the end of the period of 12 months beginning with the penalty date, and

b

the information required in the return relates only to persons registered for gross payment (within the meaning of Chapter 3 of Part 3 of FA 2004).

2

Where, by failing to make the return, P withholds information which relates to such persons, the penalty under this paragraph is—

a

if the withholding of the information is deliberate and concealed, £3,000, and

b

if the withholding of the information is deliberate but not concealed, £1,500.