Search Legislation

Finance Act 2020

Status:

This is the original version (as it was originally enacted).

Assessment of penalty, etc

56(1)If a person is liable to a penalty under this Part of this Schedule, HMRC must—

(a)assess the penalty, and

(b)notify the person.

(2)The assessment of a penalty—

(a)is to be treated for procedural purposes in the same way as an assessment to tax (except in respect of a matter expressly provided for by this Schedule),

(b)may be enforced as if it were an assessment to tax, and

(c)may be combined with an assessment to tax.

(3)A supplementary assessment may be made in respect of a penalty if an earlier assessment is based on an amount of tax due and payable that is found by HMRC to be an underestimate or insufficient.

(4)Sub-paragraph (5) applies if—

(a)an assessment in respect of a penalty is based on a liability to tax that would have been shown in a return, and

(b)that liability is found by HMRC to be excessive.

(5)HMRC may by notice amend the assessment so it is based on the correct amount.

(6)An amendment under sub-paragraph (5)

(a)does not affect when the penalty must be paid;

(b)may be made after the last day on which the assessment in question could have been made (under sub-paragraph (7)).

(7)An assessment of a penalty must be made before the end of the period of 12 months beginning with—

(a)the end of the appeal period for the assessment of the liability to tax which would have been shown in the return, or

(b)if there is no such assessment, the date on which that liability is ascertained or it is ascertained that the liability is nil.

(8)In sub-paragraph (7) “appeal period” means the period during which—

(a)an appeal could be brought, or

(b)an appeal that has been brought has not been determined or withdrawn.

(9)A penalty must be paid before the end of the period of 30 days beginning with the day on which notification of the penalty is issued.

Back to top

Options/Help

Print Options

You have chosen to open The Whole Act

The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open The Whole Act as a PDF

The Whole Act you have selected contains over 200 provisions and might take some time to download.

Would you like to continue?

You have chosen to open the Whole Act

The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open Schedules only

The Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

Close

Legislation is available in different versions:

Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.

Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.

Close

Opening Options

Different options to open legislation in order to view more content on screen at once

Close

More Resources

Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • correction slips
  • links to related legislation and further information resources
Close

More Resources

Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • correction slips

Click 'View More' or select 'More Resources' tab for additional information including:

  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • links to related legislation and further information resources