Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 section 55

Amendment to penalty assessment provisions for record-keeping failures

Schedule 23, paragraph 55 makes a minor consequential amendment to section 145 of the Tax Collection and Management (Wales) Act 2016, ensuring that the penalty assessment rules for record-keeping failures also apply in connection with the new section 38A return provisions introduced by the 2017 Act.

• Section 145 of the 2016 Act governs how WRA assesses penalties for failures to keep and preserve records in connection with tax returns or claims.
• The amendment updates section 145(2) so that it references the new section 38A alongside the existing section 38.
• This ensures that penalties for record-keeping failures apply equally to returns made under both section 38 and the newly inserted section 38A.
• The change is a consequential amendment, keeping the penalty framework consistent with the new return provisions introduced by the 2017 Act.