SolvedCH153700 | Penalties for Failure to Pay on Time: Rules for specific taxes: Bank Payroll Tax (BPT): Penalties: Determinations, assessments, amendments and corrections
From HM Revenue & Customs · Compliance Handbook
A person is liable to a penalty where they pay late an amount of BPT that results from
HMRC issuing a determination or assessment, or
the person amending their BPT return to correct an inaccuracy.
See below for what the penalty date is for each of these.
Determination made in the absence of a BPT return
Where we have issued a determination under paragraph 24 of Schedule 1 FA 10 in the absence of a return, the penalty date is 1 September 2010.
Assessment, other than in absence of a return, and amendment or correction of a return
The penalty date is 31 days after the date on which the assessment, amendment or correction is made. The person is liable to an initial penalty of 5% of the amount unpaid at the penalty date.
Note that if a person makes an amendment or correction to a return, this may indicate that the original return was incorrect and that they may be liable to an inaccuracy penalty under Schedule 24 FA07.