Finance Act 2003 (c. 14)

SCHEDULES

SCHEDULE 10 U.K. Stamp duty land tax: returns, enquiries, assessments and appeals

Modifications etc. (not altering text)

C1 Sch. 10 applied (with modifications) (with effect in accordance with Sch. 61 para. 29(2)(a) of the amending Act) by Finance Act 2009 (c. 10), Sch. 61 para. 7(9)

Part 1 U.K. Land transaction returns

Formal notice to deliver return: daily penalty U.K.

5 (1) If it appears to the Inland Revenue— U.K.

(a) that a purchaser required to deliver a land transaction return in respect of a chargeable transaction has failed to do so, and

(b) that the filing date has now passed,

they may issue a notice requiring him to deliver a land transaction return in respect of the transaction.

(2) The notice must specify—

(a) the transaction to which it relates, and

(b) the period for complying with the notice (which must not be less than 30 days from the date of issue of the notice).

(3) If the purchaser does not comply with the notice within the specified period, the Inland Revenue may apply to the [F1 tribunal] for an order imposing a daily penalty.

(4) On such an application the [F2 tribunal] may direct that the purchaser shall be liable to a penalty or penalties not exceeding £60 for each day on which the failure continues after the day on which he is notified of the direction.

(5) This paragraph does not affect, and is not affected by, any penalty under paragraph 3 or 4 (flat-rate or tax-related penalty for failure to deliver return).

Textual Amendments

F1 Word in Sch. 10 para. 5(3) substituted (1.4.2009) by The Transfer of Tribunal Functions and Revenue and Customs Appeals Order 2009 (S.I. 2009/56), art. 1(2), Sch. 1 para. 374(2)

F2 Word in Sch. 10 para. 5(4) substituted (1.4.2009) by The Transfer of Tribunal Functions and Revenue and Customs Appeals Order 2009 (S.I. 2009/56), art. 1(2), Sch. 1 para. 374(3)