Related Commentary  Related CasesRelated HMRC Manuals

1(1)  A penalty is payable by a person (P) where–

(a)P gives HMRC a document of a kind listed in the Table below, and

(b)Conditions 1 and 2 are satisfied.

1(2)  Condition 1 is that the document contains an inaccuracy which amounts to, or leads to–

(a)an understatement of a liability to tax,

(b)a false or inflated statement of a loss, or

(c)a false or inflated claim to repayment of tax.

1(3)  Condition 2 is that the inaccuracy was careless (within the meaning of paragraph 3) or deliberate on P's part.

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