Finance Act, 1999
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Amendment of section 987 (penalties for breach of regulations) of Principal Act. |
25.—Section 987 of the Principal Act is hereby amended— | |
(a) by the substitution of the following subsection for subsection (1)— | ||
“(1) Where any person does not comply with any provision of regulation under this Chapter requiring that person to send any return, statement, notification or certificate, other than the end of year return required under Regulation 35 of the Income Tax (Employments) Regulations, 1960 ( S.I. No. 28 of 1960 ), or to remit income tax to the Collector-General or fails to make any deduction or repayment in accordance with any regulation made pursuant to section 986(1)(g), that person shall be liable to a penalty of £1,200.”, | ||
(b) by the insertion after subsection (1) of the following subsection: | ||
“(1A) Where any person fails to send an end of year return to the Collector-General in accordance with Regulation 35 of the Income Tax (Employments) Regulations, 1960 ( S.I. No. 28 of 1960 ), that person shall be liable to a penalty of £500 for each month or part of a month during which the said return remains outstanding, subject to a maximum penalty of £2,000.”, | ||
and | ||
(c) in subsection (2) by the substitution of “subsection (1) or (1A)” for “subsection (1)”. |