Various penalties are chargeable.

(1)Failure to deliver an account under IHTA 1984, s. 216 or 217 carries a fixed penalty of £100 but cannot exceed the tax due. Where the account has not been delivered within the period of six months of the due date of delivery, there is a further penalty of £100 but this cannot exceed the tax due. In addition, a daily penalty of up to £60 is levied from the date that the failure is declared by a court or the tribunal until the account is delivered. Where the account has not been delivered within 12 months of the due date of delivery, there is a penalty of up to £3,000.

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