A company may incur a penalty of £5,000 for failing to notify HMRC of its senior accounting officer or officers1. A penalty may not be incurred where another company in the same group has incurred a similar penalty for the same year2.
A senior accounting officer may incur a penalty of £5,000 for3:
- Ìý
(a)ÌýÌýÌýÌý failing to monitor accounting arrangements, or failing to identify any deficiencies
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(b)ÌýÌýÌýÌý failing to provide a certificate (see V5.215), or providing such a certificate which contains a careless or deliberate inaccuracy
Where an inaccuracy is neither careless nor deliberate at the time it is given and the senior accounting officer discovered the inaccuracy at a later date but failed to inform HMRC accordingly, the inaccuracy is to be regarded as
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Web page updated on 17 Mar 2025 14:11