Tax Collection and Management (Wales) Act 2016 section 123A

Penalty for failure to pay amount payable in respect of tax credit on time

Section 123A imposes a penalty on a person who fails to pay on time an amount due following a WRA assessment relating to a tax credit.

• This section applies where a person owes an amount as a result of a WRA assessment made under section 55A (assessment in relation to a tax credit).
• A penalty arises if the person does not pay the amount on or before the penalty date.
• The penalty date is 30 days after the date by which the amount was required to be paid.
• The penalty is 5% of the amount payable under the WRA assessment.