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IHTM36107 | Incorrect account, information or document: s.248(2) penalty

From HM Revenue & Customs · Inheritance Tax Manual

Under IHTA84/S248 (2) a person other than the person who delivered, furnished or producedan incorrect account, document or information may be liable for a penalty if

  • the error comes to the notice of the other person

  • the other person is liable for the tax that has been or might have been underpaid, and

  • the other person fails to tell us of the error without unreasonable delay.

The maximum penalty payable is the same as for a penalty for negligence underIHTA84/S247 (1) (IHTM36103).

If you think that a penalty may be payable under IHTA84/S248 (2) you should refer the fileto your B2 manager, who will consult the Penalty Portfolio Holder.