Version Superseded: 17/07/2013
Point in time view as at 19/07/2011.
Finance Act 2009, Paragraph 5 is up to date with all changes known to be in force on or before 07 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
5(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.U.K.
(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.
Modifications etc. (not altering text)
C1Sch. 55 applied by S.R. 2009/128, reg. 35 (as substituted (6.4.2011) by The Education (Student Loans) (Repayment) (Amendment) Regulations (Northern Ireland) 2011 (S.R. 2011/137), regs. 1(1), 8(a) (with reg. 12))
C2Sch. 55 applied by S.I. 2009/470, reg. 40(1)(2) (as substituted (6.4.2011) by The Education (Student Loans) (Repayment) (Amendment) Regulations 2011 (S.I. 2011/784), regs. 1(1), 9 (with reg. 12(2)))
Commencement Information
I1Sch. 55 para. 5 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))
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