SCHEDULE 41 Penalties: Failure to Notify and Certain VAT and Excise Wrongdoing
Finance Act 2008 (2008 c 9) | Legislation

SCHEDULE 41 Penalties: Failure to Notify and Certain VAT and Excise Wrongdoing

Section 123

Failure to notify etc

1

A penalty is payable by a person (P) where P fails to comply with an obligation specified in the Table below (a “relevant obligationâ€).

Tax to which obligation relatesObligation
Income tax and capital gains taxObligation under section 7 of TMA 1970 (obligation to give notice of liability to income tax or capital gains tax).
Corporation taxObligation under paragraph 2 of Schedule 18 to FA 1998 (obligation to give notice of chargeability to corporation tax).
[Diverted profits taxObligation under section 92 of FA 2015 (duty to notify if within scope of diverted profits tax).]
[Digital services taxObligation under section 54 of FA 2020 (obligation to notify HMRC when threshold conditions for digital services tax are met).]
[Multinational top-up taxObligation of a filing member of a multinational group under Part 3 of Schedule 14 to FA 2023.]
Value added taxObligations under paragraphs 5, 6, 7 and 14(2) and (3) of Schedule 1 to VATA 1994 (obligations to notify liability to register and notify material change in nature of supplies made by person exempted
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