SCHEDULES

SCHEDULE 55Penalty for failure to make returns etc

27Interpretation

1

This paragraph applies for the construction of this Schedule.

2

The withholding of information by P is—

a

“deliberate and concealed” if P deliberately withholds the information and makes arrangements to conceal the fact that the information has been withheld, and

b

“deliberate but not concealed” if P deliberately withholds the information but does not make arrangements to conceal the fact that the information has been withheld.

3

“HMRC” means Her Majesty’s Revenue and Customs.

4

References to a liability to tax, in relation to a return falling within item 6 in the Table (construction industry scheme), are to a liability to make payments in accordance with Chapter 3 of Part 3 of FA 2004.

5

References to an assessment to tax, in relation to inheritance tax and stamp duty reserve tax, are to a determination.