SCHEDULES
SCHEDULE 16Penalties for enablers of defeated tax avoidance
PART 6Assessment of penalty
Assessment of penalty
19
1
Where a person is liable for a penalty under paragraph 1 HMRC must—
a
assess the penalty, and
b
notify the person.
2
If—
a
HMRC do not have all the information required to determine the amount or value of the relevant consideration within the meaning of paragraph 15, and
b
HMRC have taken all reasonable steps to obtain that information,
HMRC may assess the penalty on the basis of a reasonable estimate by HMRC of that consideration.
3
This paragraph is subject to—
a
paragraphs 21 and 22 (limits on when penalty may be assessed); and
b
Part 7 of this Schedule (requirement for opinion of GAAR Advisory Panel before penalty may be assessed).