Insurance Premium Tax: Discretion, reasonable excuse and mitigation: Double Jeopardy
Please note: penalties under Schedule 7 Finance Act 1994 for failure to notify liability to register have been replaced by the Failure to Notify penalty introduced by Schedule 41 Finance Act 2008. The Failure to Notify penalty applies where an obligation to notify liability to register for IPT occurs on or after 01/04/2010. Penalties under Schedule 7 Finance Act 1994 will continue to apply where an obligation to notify occurs before 01/04/2010.
Please see the Compliance Handbook CH70000 for more information about the Failure to Notify penalty.
Please note: penalties under the Finance Act 1994 for failure to provide information and failure to produce records have now been replaced by penalties under Schedule 36 Finance Act 2008 where HMRC have requested information or documents on or after 01 /04/2010. If HMRC requested information or documents before 01/04/2010 the Finance Act 1994 penalties will continue to apply.
Please the Compliance Handbook CH20000 for more information about information and inspection powers.
If a trader is assessed for a penalty for civil evasion (Finance Act 1994, Schedule 7, paragraph 12) or is convicted of an offence, they cannot also be assessed for a penalty under section 14, 15, 16 or 17 for the same conduct, as this would be double jeopardy.