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HMRC internal manual

Compliance Handbook

From
HM Revenue & Customs
Updated
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Penalties for Failure to Pay on Time: Rules for specific taxes: Bank Payroll Tax (BPT): Penalties: Determinations, assessments, amendments and corrections

A person is liable to a penalty where they pay late an amount of BPT that results from

  • HMRC issuing a determination or assessment, or
  • the person amending their BPT return to correct an inaccuracy.

See below for what the penalty date is for each of these.

Determination made in the absence of a BPT return

Where we have issued a determination under paragraph 24 of Schedule 1 FA 10 in the absence of a return, the penalty date is 1 September 2010.

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Assessment, other than in absence of a return, and amendment or correction of a return

The penalty date is 31 days after the date on which the assessment, amendment or correction is made. The person is liable to an initial penalty of 5% of the amount unpaid at the penalty date.

Note that if a person makes an amendment or correction to a return, this may indicate that the original return was incorrect and that they may be liable to an inaccuracy penalty under Schedule 24 FA07.

FA09/SCH56

FA10/SCH1/PARA39