Part 1 Introduction
Finance Act 2021 (2021 c 26) | Legislation

SCHEDULE 26 Penalties for Failure to Pay Tax

Section 117

Part 1 Introduction

Introduction

1

[(1)]     This Schedule makes provision for penalties to be payable by a person who, in relation to a tax dealt with by one of the following tables, fails to pay an amount specified in column 2 of the table (“the tax dueâ€) on or before the date specified in column 3 of the table (“the specified dateâ€).

[(2)     In the table relating to value added tax, “annual accounting scheme instalment†means an amount payable to HMRC by virtue of regulation 50(2)(a) of the Value Added Tax Regulations 1995 (SI 1995/2518).]

Income tax or capital gains tax
1Amount of income tax or capital gains tax payable under section 55 of TMA 1970The date determined in accordance with section 55 of TMA 1970 as the date by which the amount must be paid
2Amount of income tax or capital gains tax payable under section 59B(3) or (4) of TMA 1970The date specified in section 59B(3) or (4) of TMA 1970 as the date by which the amount must be paid
3Amount
Powered by Lexis+®
 

Popular documents

LEXISNEXIS

Common law offence of false imprisonment

Common law offence of false imprisonmentThe offence of false imprisonmentFalse imprisonment is a common law offence but it is more common as a civil action in tort (see Practice Note: False imprisonment).It is triable only on indictment. It may be classified in class 2A, 2B or 3 in accordance with

LEXISNEXIS

Mortgagees and tenants

Mortgagee’s consent to grant of leaseIf a property is subject to a mortgage that prohibits leasing without the mortgagee’s consent, then written evidence of consent must be obtained prior to completion of the lease. On the grant of an underlease, mortgagee’s consent in respect of any mortgage over

LEXISNEXIS

Arbitration agreements—definition, purpose and interpretation

Arbitration agreements—definition, purpose and interpretationThis Practice Note considers the nature and scope of arbitration agreements with a particular focus on arbitration agreements pursuant to the law of England and Wales, although it also discusses the concept from an international

LEXISNEXIS

Facilitation payments under the Bribery Act 2010

Facilitation payments under the Bribery Act 2010Facilitating the performance of a duty by public officialsFacilitation payments, also known as facilitating or grease payments, are generally small amounts of money paid to public officials or others as a means of ensuring that they perform their duty,