Section 72A | Penalties: deliberate failures to comply

(1)A person is liable to a penalty not exceeding 30% of any amount that they are determined to be liable to pay under section 62A (payments made in the knowledge of deliberate failures to comply) or 62B (returns made in the knowledge of deliberate failures to comply).

(2)A penalty under this section may not be determined more than three years after the date on which the determination under section 62A or 62B becomes final.

(3)For the purposes of subsection (2) and section 72B(3), a determination becomes final at the time when the period for any appeal or further appeal relating to the determination expires or, if later, when any appeal or final appeal relating to the penalty is finally determined.

(4)Section 103(4) TMA 1970 (time limits) does not apply to a penalty under this section.