Taxes Consolidation Act 1997 section 653BG

Penalties

Section 653BG applies the tax-geared penalty regime for incorrect returns to vacant homes tax.

• The penalty provisions in section 1077F, which deal with deliberately or carelessly making incorrect returns, are extended to apply to vacant homes tax (VHT).
• References in section 1077F to "income, profits or gains" are read as references to vacant homes tax.
• References in section 1077F to "any allowance, deduction, relief or credit" are read as including references to an exemption available under the VHT provisions.
• The effect is that a property owner who carelessly or deliberately understates their VHT liability, or who fails to make a required return, faces the same graduated penalties that apply to incorrect income tax returns.