The late delivery ( IHTM36033) of the following accounts may result in a penalty under IHTA84/S245
The penalty provisions need to be considered for
all late accounts, including those delivered by
persons domiciled outside the United Kingdom.
The legislation also applies to the late delivery of a corrective account ( IHTM10011) (form C4). But you should not normally seek a penalty for the late delivery of the corrective account or Inventory under IHTA84/S245. You should instead consider a penalty for failing to correct an error in an account ( IHTM36106), IHTA84/S248 (1), if you discover that a corrective account or inventory was not submitted promptly after the discovery of a defect in the original account.