18(1)This paragraph applies where paragraph 16 requires a group tax strategy to be published for a UK group in any financial year of the head of the UK group.U.K.
(2)The head of the group is liable to a penalty of £7,500 if—
(a)there is a failure to publish a group tax strategy for the group that complies with paragraph 16(2), or
(b)where a group tax strategy has been published, there is a failure to comply with paragraph 16(5).
(3)Subject to sub-paragraph (5) the head of the group is only liable to one penalty by virtue of sub-paragraph (2) in respect of a group tax strategy required for the financial year in question.
(4)Sub-paragraph (5) applies where—
(a)the head of the group is liable to a penalty under this paragraph in respect of a failure mentioned in sub-paragraph (2)(a), and
(b)no group tax strategy for the group that complies with paragraph 16(2) (disregarding paragraph 16(3)) is published within the period of 6 months after the last day on which the duty under paragraph 16(2) could have been complied with.
(5)At the end of that period, the head of the group—
(a)is liable to a further penalty of £7,500, and
(b)where the failure mentioned in sub-paragraph (4)(b) continues, is liable to a further penalty of £7,500 at the end of each subsequent month in which no such group tax strategy is published.