IHTM36105 - Incorrect account, information or document: s.247(4) penalty

IHTA84/S247 (4) applies to third parties who either

• assist in, or
• induce

the delivery, furnishing or production of any account, information or document to the Board which they know to be incorrect. You should note that the test in IHTA84/S247 (4) is in ‘knowing’ and has nothing to do with negligence. So this section does not apply in cases where you might consider that an agent has been negligent in giving advice to taxpayers.

The maximum penalty payable is £3,000. A lower penalty applied to incorrect accounts, information or documents that were delivered, furnished or produced before 27 July 1999.

You should refer any case where you think that this provision may apply to your B2 manager, who will consult with the Penalty Portfolio Holder.