Section 59A(4)

Subject to subsections (7) to (11) below, if— that person shall be liable to a surcharge equal to whichever is the greater of £30 and the specified percentage of the aggregate value of his defaults in respect of that prescribed accounting period. a taxable person on whom a surcharge liability notice has been served is in default in respect of a prescribed accounting period, that prescribed accounting period is one ending within the surcharge period specified in (or extended by) that notice, and the aggregate value of his defaults in respect of that prescribed accounting period is more than nil,

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Source: legislation.gov.uk · retrieved 2026-07-28 · Text as consolidated on 2026-06-29; changes after this date are not shown.