Taxation (International and Other Provisions) Act 2010 section 227

Penalty for misrepresentation in connection with agreement

Section 227 sets out the penalty that applies when a person provides false or misleading information in connection with an advance pricing agreement.

• A person who fraudulently or negligently makes a false or misleading statement to HMRC faces a penalty of up to £10,000.
• The penalty applies to statements made when applying for an advance pricing agreement.
• It also covers false or misleading statements made at any other stage during the preparation of an advance pricing agreement.
• The statement must be made to the Commissioners or an officer of HMRC to trigger the penalty.