Taxation (International and Other Provisions) Act 2010 section 32

Inaccuracy in return attributable to another company

Section 32 imposes a penalty on a company that deliberately causes an inaccuracy in another company's interest restriction return by supplying false information or withholding information.

• A company is liable to a penalty if it deliberately supplies false information to, or deliberately withholds information from, the company submitting the interest restriction return, intending to cause an inaccuracy in that return.
• The inaccuracy in the return must meet the same conditions as those that apply to penalties for inaccurate returns generally (conditions A or B in paragraph 30).
• The penalty applies regardless of whether the company that actually submitted the inaccurate return is also penalised for the same inaccuracy.
• The amount of the penalty is equal to the "notional tax" — that is, the additional tax that would have been due had the return been correct.