FA98/SCH18/PARA 23

A penalty up to £3,000 may be charged for each failure to keep or to preserve adequate records in respect of a return or in respect of a claim made other than in a return. For this purpose there can be only one failure for each return or for each claim. These penalties can be set at less than the maximum in accordance with TMA 70/S100(1) and are subject to the normal appeal rights.

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