The Stamp Duty Reserve Tax (Amendment) Regulations 1993

Special returns, etc.

“98.— (1) Where any person—

(a) has been required, by a notice served under or for the purposes of any of the provisions specified in the first column of the Table below, to deliver any return or other document, to furnish any particulars, to produce any document, or to make anything available for inspection, and he fails to comply with the notice, or

(b) fails to furnish any information, give any certificate or produce any document or record in accordance with any of the provisions specified in the second column of the Table below,

he shall be liable, subject to subsections (3) and (4) below—

(i) to a penalty not exceeding £300, and

(ii) if the failure continues after a penalty is imposed under paragraph (i) above, to a further penalty or penalties not exceeding £60 for each day on which the failure continues after the day on which the penalty under paragraph (i) above was imposed (but excluding any day for which a penalty under this paragraph has already been imposed).

(2) Where a person fraudulently or negligently furnishes, gives, produces or makes any incorrect information, certificate, document, record or declaration of a kind mentioned in any of the provisions specified in either column of the Table below, he shall be liable to a penalty not exceeding £3,000.

(3) No penalty shall be imposed under subsection (1) above in respect of a failure within paragraph (a) of that subsection at any time after the failure has been remedied.

(4) No penalty shall be imposed under paragraph (ii) of subsection (1) above in respect of a failure within paragraph (b) of that subsection at any time after the failure has been remedied.

TABLE

1	2
Section 23 of this Act;
Section 25(1), (2), (3), (4), (5), (8) and (9) of this Act;	The Stamp Duty Reserve Tax Regulations 1986 (other than regulation 4).
Section 26 of this Act;
Section 51 of this Act;
The Stamp Duty Reserve Tax Regulations 1986.”.

(12) For section 99 (as modified) there shall be substituted—

“99.    Assessing in giving incorrect notice etc.

Any person who assists in or induces the giving of any notice under regulation 4, or any information under regulation 5, of the Stamp Duty Reserve Tax Regulations 1986 which he knows to be incorrect shall be liable to a penalty not exceeding £3,000.”.

(13) For section 100 (as modified) there shall be substituted—

“100.    Determination of penalties by officer of Board.

(1) Subject to subsection (2) below and except where proceedings for a penalty have been instituted under section 100D below or a penalty has been imposed by the Special Commissioners under section 53 of this Act, an officer of the Board authorised by the Board for the purposes of this section may make a determination imposing a penalty under any provision of this Act and setting it at such amount as, in his opinion, is correct or appropriate.

(2) Subsection (1) above does not apply where the penalty is a penalty under—

(a) section 93(1)(a) above, or

(c) section 98(1)(i) above.

(3) Notice of a determination of a penalty under this section shall be served on the person liable to the penalty and shall state the date on which it is issued and the time within which an appeal against the determination may be made.

(4) After the notice of a determination under this section has been served the determination shall not be altered except in accordance with this section or on appeal.

(5) If it is discovered by an officer of the Board authorised by the Board for the purposes of this section that the amount of a penalty determined under this section is or has become insufficient the officer may make a determination in a further amount so that the penalty is set at the amount which, in his opinion, is correct or appropriate.”