SCHEDULES

SCHEDULE 55Penalty for failure to make returns etc

Interpretation

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(1)

This paragraph applies for the construction of this Schedule.

(2)

The withholding of information by P is—

(a)

“deliberate and concealed” if P deliberately withholds the information and makes arrangements to conceal the fact that the information has been withheld, and

(b)

“deliberate but not concealed” if P deliberately withholds the information but does not make arrangements to conceal the fact that the information has been withheld.

F1(2A)

The Commissioners” means the Commissioners for Her Majesty's Revenue and Customs.

(3)

HMRC” means Her Majesty's Revenue and Customs.

F2(3A)

Tax month” means the period beginning with the 6th day of a month and ending with the 5th day of the following month.

(4)

References to a liability to tax, in relation to a return falling within item 6 in the Table (construction industry scheme), are to a liability to make payments in accordance with Chapter 3 of Part 3 of FA 2004.

(5)

References to an assessment to tax, in relation to inheritance tax and stamp duty reserve tax, are to a determination.