Penalties for failure to notify a liability to tax
Penalties for failure to notify a liability to tax

The following Tax practice note provides comprehensive and up to date legal information covering:

  • Penalties for failure to notify a liability to tax
  • When is a penalty chargeable?
  • Initial failure to notify
  • Continuing failure to notify
  • Calculating the penalty—behaviour of the taxpayer
  • Rates
  • Offshore penalties
  • Non-deliberate
  • Deliberate
  • Deliberate with concealment
  • More...

Penalties for failure to notify a liability to tax

IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s withdrawal from the EU. At this point in time (referred to in UK law as ‘IP completion day’), key transitional arrangements come to an end and significant changes begin to take effect across the UK’s legal regime. This document contains guidance on subjects impacted by these changes. Before continuing your research, see Practice Note: What does IP completion day mean for Tax?

FORTHCOMING CHANGE: HMRC has consulted on proposals to amend the rules in Schedule 41 to the Finance Act 2008 on penalties for failure to notify, as part of a number of measures aimed at 'tackling the hidden economy'. The intention is to deter repeated non-compliance by increasing the penalties for second or subsequent failures to notify. HMRC has suggested two options for achieving this: the first option is increased penalty percentages for a second or subsequent failure to notify; the second option is to impose penalties for repeated failures at the same rates as those currently applying to deliberate failures. It would continue to be the case that taxpayers with a reasonable excuse for their failure would not receive a penalty. The government recommitted, in the summary of responses released on 20 March

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