The following Value Added Tax guidance note by Tolley provides comprehensive and up to date tax information covering:
The SAO provisions introduce three potential penalty positions, with one chargeable on the company and the other two assessable on the SAO personally. Each of the penalties is a fixed amount of £5,000 with no reduction or mitigation for any reason. The three potential penalties are assessable as follows:
FA 2009, Sch 46, paras 4, 1(1)
If two penalties arise in respect of the same company, an SAO may be liable for both penalties (failure to comply with main duty and incorrect certificate) within that company.
If an individual is the SAO for one or more companies within a group only one certificate is required to cover the companies. Therefore, the SAO may only be liable for one penalty in respect of the accuracy and / or timeliness of the certificate.
Where the financial year end dates of the companies under the same SAO are not the same it will depend on the facts and circumstances as to whether the CRM / CET will look to impose more than one set of penalties. Ultimately the decision will be made by the Penalties Consistency Panel of HMRC (see below).
A penalty charged under the SAO regime is deemed to be an administrative penalty. Therefore
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