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Section 19: Breaches of regulatory provisions.

Finance Act 1988 · 1988 c. 39View on legislation.gov.uk

Part II: Value Added Tax

In subsection (1) of section 17 of the Finance Act 1985 (breaches of regulatory provisions)—

after the words "paragraph 7" there shall be inserted the words "or 7A" and for the words "(notification of cessation of taxable supplies)" there shall be substituted the words "(notification of end of liability or entitlement to be registered etc.)"; and
for the words from "to a daily penalty" to the end there shall be substituted the words "to a penalty equal to the prescribed rate multiplied by the number of days on which the failure continues (up to a maximum of 100) or, if it is greater, to a penalty of £50."

In subsection (3) of that section, for "£10", "£20" and "£30" there shall be substituted "£5", "£10" and "£15" respectively.

In subsection (1) of section 21 of that Act (assessment of amounts due by way of penalty, interest or surcharge), after the words "the Commissioners may" there shall be inserted the words "subject to subsection (1A) below" and after that subsection there shall be inserted—

Where—

a person is liable to a penalty for any failure to comply with such a requirement as is referred to in subsection (1) of section 17 of that Act; and
any of the days by reference to which that penalty is to be assessed fall before 16th March 1988,

subsection (3) of that section shall apply without the amendments made by subsection (2) above in relation to so much of the assessment as is to be made by reference to those days.

Subsections (1)(b), (2) and (3) above shall be deemed to have come into force on 16th March 1988.

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This legislation text comes from legislation.gov.uk. Contains public sector information licensed under the Open Government Licence v3.0. These source and reuse terms cover the legislation text, not Remedy's commentary.

Reuse reviewed 21 August 2026 under Open Government Licence v3.0.