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SCHEDULES

SCHEDULE 22E+W+S+N.I.Asset-based penalty for offshore inaccuracies and failures

PART 5 E+W+S+N.I.General

Consequential amendments etcE+W+S+N.I.

20(1)In section 103ZA to TMA 1970 (disapplication of sections 100 to 103 in case of certain penalties), omit the “or” at the end of paragraph (h), and at the end insert , or E+W+S+N.I.

(j)Schedule 22 to the Finance Act 2016 (asset-based penalty).

(2)In section 107A of that Act (relevant trustees)—

(a)in subsection (2)(a), after “Schedule 55 to the Finance Act 2009” insert “ or Schedule 22 to the Finance Act 2016 ”;

(b)after subsection (3)(a) insert—

(aa)in relation to a penalty under Schedule 22 to the Finance Act 2016, or to interest under section 101 of the Finance Act 2009 on such a penalty, the time when the relevant act or omission occurred;;

(c)in the words after paragraph (c), after “paragraph” insert “ (aa) and ”.

(3)In Schedule 24 to FA 2007 (penalties for errors), in paragraph 12 (interaction with other penalties etc), in sub-paragraph (2A) at the end insert “ or Schedule 22 to FA 2016 (asset-based penalty) ”.

(4)In Schedule 41 to FA 2008 (penalties for failure to notify), in paragraph 15 (interaction with other penalties etc), in sub-paragraph (1A) at the end insert “ or Schedule 22 to FA 2016 (asset-based penalty). ”

(5)In Schedule 55 to FA 2009 (penalty for failure to make return etc), in paragraph 17 (interaction with other penalties etc), in sub-paragraph (2), at the end insert , or

(d)a penalty under Schedule 22 to FA 2016 (asset-based penalty).

Annotations:

Commencement Information

I1Sch. 22 para. 20 in force at 1.4.2017 with effect in accordance with reg. 2(b) by S.I. 2017/277, reg. 2(b)