(This archived guidance relates to HMRC discretionary
practice before the 6th April 2006. For current guidance on
Registered Pension Schemes see the Registered Pension Schemes
Manual)
(This text has been withheld because of exemptions in the
Freedom of Information Act 2000) Where a notification is late
we will consider seeking a one-off penalty of up to £300 from
the General Commissioners of Income Tax under Section 98 Taxes
Management Act 1970 (TMA). It is unlikely that the Commissioners
will consider a penalty where the time it has taken the Inland
Revenue to process the case is longer than the reporting time limit
given to the scheme administrator or if there has been any undue
delay on our part, so it is important that we proceed quickly at
all stages. The time it takes us to process a case does not include
the time it takes the administrator or practitioner to reply to
letters PS 7007 and 7007A, see
PSI23.1.15.
Because occasionally there may be exceptional reasons where
the C1 decision maker decides
not to authorise penalty proceedings, you should
not pre-empt this decision by making definite statements in
correspondence that we
will seek penalties. Simply say that we will
consider seeking penalties for all late
notifications. If you are asked to extend the deadline for
submission of a report, refuse saying that any reports received
outside the statutory prescribed period will be considered for
penalties, at which time all the relevant facts will be looked
at.
