138Potential lost revenue: delayed tax
This section has no associated Explanatory Notes
(1)Where an inaccuracy resulted in an amount of devolved tax being declared later than it should have been (“the delayed tax”), the potential lost revenue is—
(a)5% of the delayed tax for each year of the delay;
(b)a percentage of the delayed tax, for each period of delay of less than a year, equating to 5% per year.
(2)This section does not apply to a case to which section 137 applies.