Finance Act 2026
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Change 1
265 Failure to deliver company tax returns
(1) In paragraph 17 of Schedule 18 to FA 1998 (failure to deliver company tax return: flat-rate penalty)— (a) in sub-paragraph (2)— (i) in paragraph (a), for “£100” substitute “£200”; (ii) in paragraph (b), for “£200” substitute “£400”; (b) in sub-paragraph (3), in the opening words— (i) for “£500” substitute “£1000”; (ii) for “£1000” substitute “£2000”; (c) after sub-paragraph (4) insert— (5) The Commissioners for His Majesty’s Revenue and Customs may by regulations amend sub-paragraph (2) or (3) so as to increase or decrease the amount of a penalty for the time being specified in those sub-paragraphs. (6) Regulations under sub-paragraph (5) may include transitional and saving provision. (7) A statutory instrument containing regulations under sub-paragraph (5) which increase the amount of a penalty by more than is necessary to reflect changes in the value of money may not be made unless a draft of the instrument has been laid before and approved by a resolution of the House of Commons. (2) The amendments made by subsection (1)(a) and (b) have effect in relation to a failure to deliver a company tax return for which the filing date is on or after 1 April 2026.
265 Failure to deliver company tax returns
(1) In paragraph 17 of Schedule 18 to FA 1998 (failure to deliver company tax return: flat-rate penalty)— (a) in sub-paragraph (2)— (i) in paragraph (a), for “£100” substitute “£200”; (ii) in paragraph (b), for “£200” substitute “£400”; (b) in sub-paragraph (3), in the opening words— (i) for “£500” substitute “£1000”; (ii) for “£1000” substitute “£2000”; (c) after sub-paragraph (4) insert— (5) The Commissioners for His Majesty’s Revenue and Customs may by regulations amend sub-paragraph (2) or (3) so as to increase or decrease the amount of a penalty for the time being specified in those sub-paragraphs. (6) Regulations under sub-paragraph (5) may include transitional and saving provision. (7) A statutory instrument containing regulations under sub-paragraph (5) which increase the amount of a penalty by more than is necessary to reflect changes in the value of money may not be made unless a draft of the instrument has been laid before and approved by a resolution of the House of Commons. (2) The amendments made by subsection (1)(a) and (b) have effect in relation to a failure to deliver a company tax return for which the filing date is on or after 1 April 2026.
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