SALF408 | Enquiries into Tax Returns: penalties for inaccuracies

Schedule 24 FA 2007

There are penalties where an inaccuracy in a tax return leads to an additional tax liability and the inaccuracy was careless or deliberate. The penalty is a percentage of the additional tax due as a result of correcting the inaccuracy. The maximum penalty is 100%. An officer of the Board will assess the amount depending on the factors in each case (see also Inaccuracies in the tax return in SALF206).

Detailed guidance on inaccuracy penalties can be found in the Compliance Handbook at CH80000.