108 Penalties
Finance Act 1999 (1999 c 16) | Legislation

108 Ìý±Ê±ð²Ô²¹±ô³Ù¾±±ð²õ

(1)     For section 245 of the Inheritance Tax Act 1984 (failure to provide information) there shall be substituted the following sections—

“245 Failure to deliver accounts

(1)     This section applies where a person (“the taxpayerâ€) fails to deliver an account under section 216 or 217 above.

(2)     The taxpayer shall be liable—

(a)     to a penalty not exceeding £100; and

(b)     to a further penalty not exceeding £60 for every day after the day on which the failure has been declared by a court or the Special Commissioners and before the day on which the account is delivered.

(3)     If—

(a)     proceedings in which the failure could be declared are not commenced before the end of the relevant period, and

(b)     the taxpayer has not delivered the account by the end of that period,

he shall be liable to a further penalty not exceeding £100.

(4)     In subsection (3) above “the relevant period†means the period of six months beginning immediately after the end of the period given by section

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