Section 153F — Finance Act 2014: Penalties for false declarations

Penalties for false declarations 153F 1 This section applies where—

a a declaration accompanying an application under section 153 is false, and b at least one of conditions A to C in section 153D is met (reading references to an inaccuracy as references to a falsehood and references to the scheme administrator as references to the person who made the declaration).

2 The person who made the declaration is liable to a penalty not exceeding the maximum penalty for which the person could have been liable under paragraph 40A of Schedule 36 to the Finance Act 2008 (penalties for inaccurate information and documents) had that paragraph applied in relation to the falsehood.

3 Where the declaration contains more than one falsehood, a penalty is payable in relation to each falsehood.

4 Paragraphs 46 to 49 of Schedule 36 to the Finance Act 2008 (assessment of penalties etc) apply in relation to a penalty under this section as they apply in relation to a penalty under paragraph 40A of that Schedule.