Taxes Management Act 1970 section 93

Failure to make return for income tax and capital gains tax

Section 93 has been repealed and replaced by the penalty regime under Schedule 55 to the Finance Act 2009, which now governs penalties for late filing of income tax and capital gains tax self-assessment returns.

• Section 93, which imposed penalties for failing to submit income tax and capital gains tax returns on time, has been repealed.
• The repeal was effected by SI 2011/702, which appointed the commencement date for the new penalty regime under Schedule 55 to the Finance Act 2009.
• The new Schedule 55 regime applies to self-assessment returns for income tax and capital gains tax and introduces a structured system of fixed and tax-geared penalties for late filing.
• Transitional and savings provisions in SI 2011/702 ensure that the old section 93 penalties can still apply to returns for earlier tax years where relevant.

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