SCHEDULES
C1SCHEDULE 55Penalty for failure to make returns etc
Annotations:
Modifications etc. (not altering text)
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.
Sch. 55 modified (8.4.2010) by Finance Act 2010 (c. 13), Sch. 1 para. 38