A person who is required by a notice under section 8 to make and deliver a return for a year of assessment commits an offence if—
the return is not delivered by the end of the withdrawal period,
an accurate return would have disclosed liability to income tax or capital gains tax (or both) that is chargeable for the year of assessment on or by reference to offshore income, assets or activities, and
the total amount of income tax and capital gains tax that is chargeable for the year of assessment on or by reference to offshore income, assets or activities exceeds the threshold amount.
It is a defence for a person accused of an offence under this section to prove that the person had a reasonable excuse for failing to deliver the return.
In this section "the withdrawal period" has the same meaning as in section 8B (see subsection (6) of that section).