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HMRC internal manual

Self Assessment: the legal framework

Enquiries into Tax Returns: penalties for inaccuracies

Schedule 24 FA 2007 and 99 TMA

There are penalties where an inaccuracy in a tax return leads to an additional tax liability and the inaccuracy was careless or deliberate. The amount of the penalty is a percentage of the additional tax found to be due. The maximum penalty is 100%. An officer of the Board will assess the amount depending on the factors in each case (see also Inaccuracies in the tax return in SALF206). Any person who assists in the production of a tax return, which he or she knows to be incorrect, can be charged a penalty of up to £3,000.