Revenue Scotland and Tax Powers Act 2014 section 162

Land and buildings transaction tax: 6 month penalty for failure to make return

Section 162 sets out the penalty that applies when a person fails to submit a land and buildings transaction tax return for more than six months after the penalty date.

• A penalty arises only if the failure to file continues beyond six months from the penalty date
• The penalty is calculated as the greater of 5% of the tax liability or £300
• The tax liability used for the calculation is the amount that would have been shown in the return
• This penalty is in addition to any earlier penalty for the initial failure to file on time