Section 170 | Up-rating of certain penalties.

From legislation.gov.uk

(1)In section 23(8) of the Taxes Act 1988 (maximum penalty for agents failing to make certain payments on behalf of principals), for “£50” there shall be substituted “£300”.^F1

(2)Repealed^F2

(3)Repealed^F3

(4)In—

(a)Repealed^F4

(b)Repealed^F4

(c)section 658(5) of that Act (maximum penalty for false statements or representations relating to purchased life annuities),

for “£500” there shall be substituted “£3,000”.

(5)In paragraph 2(4) of Schedule 19A to that Act and Schedule 16A to the Finance Act 1973 (maximum penalty for incorrect return byLloyd’s agent), for the words “£500 in the case of fraud and £250 in the case of negligence” there shall be substituted “£3,000”.

(6)This section shall apply in relation to things done or omitted on or after the day on which this Act is passed.