Oil Taxation Act 1975 section 6

Paragraph 6 Returns by the responsible person

Section 6 sets out the penalties that apply when the responsible person fails to deliver a petroleum revenue tax return on time.

• If the responsible person does not submit a return within the required deadline, they face an initial penalty of up to £500.
• If the failure continues after a court or tribunal has formally declared the default, an additional penalty of up to £100 per day applies for each day the failure persists.
• No penalty is payable if the responsible person remedies the failure by submitting the return before any penalty recovery proceedings have begun.
• The provision therefore acts as both a deterrent against late filing and an incentive to rectify non-compliance promptly.