Finance Act 2021

118 Penalties for failure to make returns etc or pay tax: consequential provision

(1) Schedule 27 contains amendments that are consequential on Schedules 24 to 26.

(2) Schedule 27 comes into force on such day as the Treasury may by regulations appoint.

(3) Different days may be appointed for different purposes.

(4) The Treasury may by regulations make transitional, transitory or saving provision in connection with the coming into force of any provision in Schedule 27.

(5) The Treasury may by regulations make provision that is consequential on Schedules 24 to 26.

(6) Regulations under subsection (5) may—

(a) include provision amending, repealing or revoking any provision of an Act or subordinate legislation whenever passed or made (including this Act and any Act amended by it);

(b) make supplementary, incidental, transitional, transitory or saving provision.

(7) In subsection (6) “subordinate legislation” has the same meaning as in the Interpretation Act 1978.

(8) The power to make regulations under subsection (4) or (5) includes power to make different provision for different purposes.

(9) Regulations under this section are to be made by statutory instrument.

(10) A statutory instrument containing (whether alone or with other provision) regulations under subsection (5) that amend or repeal provision made by an Act is subject to annulment in pursuance of a resolution of the House of Commons.