SCHEDULES
C2C9C7C1C6C4C5C8C3SCHEDULE 55Penalty for failure to make returns etc
Sch. 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))
Sch. 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)))
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))
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)
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)
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)
Sch. 55 modified (temp.) (with effect in accordance with Sch. 10 para. 43 of the amending Act) by Finance Act 2022 (c. 3), Sch. 10 para. 26 (as amended (5.1.2023) by S.I. 2022/1321, regs. 1, 2(2)
F3Amount of penalty: occasional returns and annual returnsF3Amount of penalty: occasional returns and returns for periods of 6 months or more
Sch. 55 para. 2 and cross-heading substituted (12.2.2019 for the purposes of soft drinks industry levy) by Finance (No. 3) Act 2010 (c. 33), s. 26(2), Sch. 10 para. 3; 2019 c. 1, s. 67(2)
I3I2I1F126A
F11A1
Information is category 0 information if—
a
it involves a domestic matter,
b
it involves an offshore matter or an offshore transfer, the territory in question is a category 0 territory and it is information which would enable or assist HMRC to assess P's liability to income tax, capital gains tax or inheritance tax, or
c
it involves an offshore matter and it is information which would enable or assist HMRC to assess P's liability to a tax other than income tax, capital gains tax or inheritance tax.
1
Information is category 1 information if—
a
it involves an offshore matter or an offshore transfer,
b
the territory in question is a category 1 territory, and
c
it is information which would enable or assist HMRC to assess P's liability to income tax, capital gains tax or inheritance tax.
2
Information is category 2 information if—
a
it involves an offshore matter F10or an offshore transfer,
b
the territory in question is a category 2 territory, and
c
it is information which would enable or assist HMRC to assess P's liability to income taxF1, capital gains tax or inheritance tax.
3
Information is category 3 information if—
a
it involves an offshore matter F9or an offshore transfer,
b
the territory in question is a category 3 territory, and
c
it is information which would enable or assist HMRC to assess P's liability to income taxF8, capital gains tax or inheritance tax.
4
Information “involves an offshore matter” if the liability to tax which would have been shown in the return includes a liability to tax charged on or by reference to—
a
income arising from a source in a territory outside the UK,
b
assets situated or held in a territory outside the UK,
c
activities carried on wholly or mainly in a territory outside the UK, or
d
anything having effect as if it were income, assets or activities of a kind described above.
F24A
If the liability to tax which would have been shown in the return is a liability to inheritance tax, assets are treated for the purposes of sub-paragraph (4) as situated or held in a territory outside the UK if they are so situated or held immediately after the transfer of value by reason of which inheritance tax becomes chargeable.
4B
Information “involves an offshore transfer” if—
a
it does not involve an offshore matter,
b
it is information which would enable or assist HMRC to assess P's liability to income tax, capital gains tax or inheritance tax,
c
by failing to make the return, P deliberately withholds the information (whether or not the withholding of the information is also concealed), and
d
the applicable condition in paragraph 6AA is satisfied.
5
Information “involves a domestic matter” if F5it does not involve an offshore matter or an offshore transfer.
6
If the information which P withholds falls into more than one category—
a
P's failure to make the return is to be treated for the purposes of this Schedule as if it were separate failures, one for each category of information according to the matters F4or transfers which the information involves, and
b
for each separate failure, the liability to tax which would have been shown in the return in question is taken to be such share of the liability to tax which would have been shown in the return mentioned in paragraph (a) as is just and reasonable.
7
For the purposes of this Schedule—
a
paragraph 21A of Schedule 24 to FA 2007 (classification of territories) has effect, but
b
an order under that paragraph does not apply to a failure if the filing date is before the date on which the order comes into force.
F78
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9
In this paragraph F6and paragraph 6AA—
“assets” has the meaning given in section 21(1) of TCGA 1992, but also includes sterling;
“UK” means the United Kingdom, including the territorial sea of the United Kingdom.
Sch. 55 modified (8.4.2010) by Finance Act 2010 (c. 13), Sch. 1 para. 38