SCHEDULES

C2C7C6C1C5C3C4SCHEDULE 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))

C5

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)

C3

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)

C4

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)

F1Amount of penalty: returns for periods of between 2 and 6 months

Annotations:
Amendments (Textual)
F1

Sch. 55 paras. 13A-13J and cross-headings inserted (12.2.2019 for specified purposes) by Finance (No. 3) Act 2010 (c. 33), s. 26(2), Sch. 10 para. 7 (as amended (17.7.2014) by Finance Act 2014 (c. 26), Sch. 22 para. 21(3); (12.2.2019) by Finance Act 2019 (c. 1), s. 67(1); and (10.12.2021 for specified purposes and with effect in accordance with s. 85(1)(b) of the amending Act) by Finance Act 2021 (c. 26), s. 85(1)(a), Sch. para. 3(1); S.I. 2021/1409, reg. 3); 2019 c. 1, s. 67(2)

13D

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 6 months beginning with the penalty date.

2

The penalty under this paragraph is the greater of—

a

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

b

£300.