Taxes Management Act 1970 section 97

Incorrect return or accounts: supplemental

Section 97 provided supplementary rules relating to penalties for delivering incorrect tax returns or accounts, but has been largely repealed and replaced by newer penalty provisions.

• Section 97 contained supplementary provisions that supported the penalty rules for incorrect tax returns or accounts under the Taxes Management Act 1970.
• The section was substantially repealed by the Finance Act 2007, which introduced a modernised penalty regime for inaccuracies in documents (Schedule 24 to that Act).
• The repeal took effect from 1 April 2008 for specified taxes and periods, as brought into force by statutory instrument SI 2008/568.
• Any remaining provisions of section 97 serve a limited transitional purpose and have been overtaken by the current penalty framework for inaccurate returns and documents.

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