CH72660 - Penalties for Failure to Notify: Calculating the penalty: Potential Lost Revenue: What is Potential Lost Revenue
The amount of penalty is calculated by applying an appropriate percentage to the potential lost revenue (PLR).
The PLR is calculated in various ways depending on the nature of the relevant obligation, see CH71300, to which the failure applies.
Follow the links below for detailed guidance on calculating the PLR for the following obligations.
| Tax | Obligation to… | Link |
|---|---|---|
| Income Tax and Capital Gains Tax | …give notice of chargeability | CH72700 |
| Corporation Tax | …give notice of chargeability. | CH72720 |
| VAT | …notify liability to be registered including distance selling, VAT acquisitions and relevant supplies | CH72740 |
| VAT | …notify a material change in the nature of supplies made by a person previously exempted from registration. Notify a material alteration in the proportion of zero rated supplies made by a person previously exempted from registration. Notify an acquisition made by a person exempted from registration. | CH72760 |
| VAT | …notify the acquisition of excise goods or new means of transport from another EU member state (non-taxable persons) | CH72780 |
| Insurance Premium Tax | …notify liability to be registered and intention to receive premiums in the course of a taxable business. | CH72800 |
| Aggregates Levy, Climate Change Levy, Landfill Tax | …notify liability to register in respect of taxable supplies or activities. Notify an intention to carry out such activities or make such supplies. | CH72800 |
| Air Passenger Duty | …notify liability to register to operate chargeable aircraft. | CH72800 |
| Alcoholic Liquor Duty, Tobacco Products Duty, Hydrocarbon Oil Duty, General Betting Duty, Pool Betting Duty, Bingo Duty, Lottery Duty, Gaming Duty, Remote Gaming Duty, Amusement Machine Licence Duty | …register, notify, licence or other obligations appropriate to the particular duty. | CH72820 |
| Machine games duty | …notify liability to register by a person able to register at least14 days before dutiable machines are made available for play. | CH72800 |