315 Penalties
Finance Act 2004 (2004 c 12) | Legislation

315 Ìý±Ê±ð²Ô²¹±ô³Ù¾±±ð²õ

(1)     After section 98B of the Taxes Management Act 1970 insert—

“98C Notification under Part 7 of Finance Act 2004

(1)     A person who fails to comply with any of the provisions of Part 7 of the Finance Act 2004 (disclosure of tax avoidance schemes) mentioned in subsection (2) below shall be liable—

(a)     to a penalty not exceeding £5,000, and

(b)     if the failure continues after a penalty is imposed under paragraph (a) above, to a further penalty or penalties not exceeding £600 for each day on which the failure continues after the day on which the penalty under paragraph (a) was imposed (but excluding any day for which a penalty

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