Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 section 48

Amount of penalty for inaccuracy in document given to WRA

Schedule 23, paragraph 48 amends the rules on penalty amounts for inaccuracies in documents given to the Welsh Revenue Authority (WRA), changing fixed penalties to maximum penalties for both deliberate and careless inaccuracies.

• Amends section 130 of the Tax Collection and Management (Wales) Act 2016, which sets out penalty amounts for inaccuracies in documents submitted to WRA.
• Changes the penalty for a deliberate inaccuracy from a fixed amount to a maximum amount, giving WRA discretion to impose a lower penalty.
• Makes the same change for careless inaccuracies, so these penalties also become maximum amounts rather than fixed sums.
• The effect is that WRA gains flexibility to set penalties at any level up to the statutory maximum, rather than being required to charge a single set figure.