Compliance: stamp duty compliance miscellaneous: Determination of free standing penalties
Part II of FA99/Sch17 provides that an authorised officer of HMRC may make a determination imposing a free-standing stamp duty penalty (STSM154040), i.e. a penalty other than for late stamping. The officer may set the amount of that penalty as in the officer’s opinion is correct and appropriate.
Under CRCA05/S13, any officer of HMRC may legally exercise the powers in Part II of FA99/Sch17. However, before advising a customer that HMRC is considering imposing a free-standing penalty and before making a determination, an HMRC officer should obtain authorisation from a senior technical or compliance manager in Stamp Taxes.
For penalties on late stamping under Stamp Act 1891/S15B, see STSM153010+.