Finance Act 2009 (c. 10)

SCHEDULES

SCHEDULE 55 U.K. Penalty for failure to make returns etc

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 U.K.

12 (1) P is liable to a penalty under this paragraph if (and only if)— U.K.

(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.

Commencement Information

I1 Sch. 55 para. 12 in force at 1.4.2011 for specified purposes and 6.4.2011 for specified purposes by S.I. 2011/702, art. 2 (with art. 1(2))