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Finance Act 2012

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This is the original version (as it was originally enacted).

Assessment of penalties

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30(1)HMRC may not assess a penalty under this Schedule after the applicable deadline.

(2)For a penalty under Part 3, the applicable deadline is the end of the period of 12 months beginning with the day on which the person became liable to the penalty.

(3)For a penalty under Part 4, the applicable deadline is the end of the period of 12 months beginning with the later of—

(a)the first day on which HMRC may assess the penalty (see paragraph 29(2)), and

(b)day X.

(4)If a loss of tax revenue is brought about by the dishonest conduct, day X is—

(a)the day immediately following the end of the appeal period for the assessment or determination of the tax revenue lost (or, if more than one client is involved, the end of the last such period), or

(b)if there is no such assessment or determination, the day on which the amount of tax revenue lost is ascertained.

(5)Otherwise, day X is the day on which HMRC ascertain that no loss of tax revenue has been brought about by the dishonest conduct.

(6)In sub-paragraph (4), “appeal period” means the period during which—

(a)an appeal could be brought, or

(b)an appeal that has been brought has not been withdrawn or determined.

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