Section 121 | Power to make regulations with respect to administration, etc.

(1)The following provisions have effect with respect to the power conferred on the Treasury by section 98(1) of the Finance Act 1986 (stamp duty reserve tax: regulations with respect to administration, etc.).

(2)That power includes power to make provision—

(a)applying the provisions of the Taxes Management Act 1970 relating to penalties and the payment of interest on overdue tax, and

(b)requiring information to be provided, or books, documents or other records to be made available for inspection, and imposing a penalty for failure to do so.

(3)That power includes, and shall be deemed always to have included, power to make provision requiring specified descriptions of persons to account for and pay tax, and any interest on it, on behalf of the person liable to pay it.