Taxes Consolidation Act, 1997. - Houses of the Oireachtas

[1997.] Taxes Consolidation Act, 1997. [No. 39.]notice of his or her personal representatives)that it is incorrect, the person shall be deemedto have failed to deliver the return of incomeon or before the specified return date for thechargeable period unless the error in the returnof income is remedied without unreasonabledelay,(iii) where a person delivers a return of income on orbefore the specified return date for the chargeableperiod but the inspector, by reason of beingdissatisfied with any statement of profits orgains arising to the person from any trade orprofession which is contained in the return ofincome, requires the person, by notice in writingserved on the person under section 900, todoany thing, the person shall be deemed not tohave delivered the return of income on orbefore the specified return date for the chargeableperiod unless the person does that thingwithin the time specified in the notice, and(iv) references to such of the specified provisions asare applied, subject to any necessary modifications,in relation to capital gains tax by section913 shall be construed as including references tothose provisions as so applied.(2) (a) Subject to paragraph (b), where in relation to a year ofassessment or accounting period a chargeable person failsto deliver a return of income on or before the specifiedreturn date for the chargeable period, any amount of taxfor that year of assessment or accounting period whichapart from this section is or would be contained in anassessment to tax made or to be made on the chargeableperson shall be increased by an amount (in this subsectionreferred to as ‘‘the surcharge’’) equal to—(i) 5 per cent of that amount of tax, subject to amaximum increased amount of £10,000, where thereturn of income is delivered before the expiry of 2months from the specified return date for the chargeableperiod, and(ii) 10 per cent of that amount of tax, subject to amaximum increased amount of £50,000, where thereturn of income is not delivered before the expiryof 2 months from the specified return date for thechargeable period,and, if the tax contained in the assessment is not theamount of tax as so increased, then, the provisions of theTax Acts and the Capital Gains Tax Acts (apart from thissection), including in particular those provisions relatingto the collection and recovery of tax and the payment ofinterest on unpaid tax, shall apply as if the tax containedin the assessment to tax were the amount of tax as soincreased.(b) In determining the amount of the surcharge, the tax containedin the assessment to tax shall be deemed to bereduced by the aggregate of—1359Pt.47 S.1084