PART 5PENALTIES

CHAPTER 2PENALTIES FOR FAILURE TO MAKE RETURNS OR PAY TAX OR AMOUNTS PAYABLE IN RESPECT OF TAX CREDITS

Penalties under Chapter 2: general

128Time limit for assessment of penalties under Chapter 2

(1)

An assessment of a penalty under this Chapter F1... must be made on or before the later of date A and (where it applies) date B.

(2)

Date A is the last day of the period of 2 years beginning with—

(a)

in the case of failure to make a tax return F2, other than where liability to the penalty arises under section 120B, the filing date, F3...

F4(aa)

in the case of liability to a penalty under section 120B (financial penalty where penalty points have been awarded), the filing date of the return in relation to which the penalty point that caused the visitor accommodation provider to reach the penalty threshold was awarded,

(b)

in the case of failure to pay a F5WRA-collected tax, the penalty date F6, or

(c)

in the case of a failure to pay an amount payable in respect of a tax credit, the penalty date.

(3)

Date B is the last day of the period of 12 months beginning with—

(a)

in the case of a failure to make a tax return—

(i)

the end of the appeal period for the assessment of the amount of F5WRA-collected tax to which a person would have been liable if the tax return had been made, or

(ii)

if there is no such assessment, the date on which that liability is ascertained or it is ascertained that the liability is nil;

(b)

in the case of a failure to pay a F5WRA-collected tax—

(i)

the end of the appeal period for the assessment of the amount of F5WRA-collected tax in respect of which the penalty is assessed, or

(ii)

if there is no such assessment, the date on which that amount of F5WRA-collected tax is ascertained.

F7(c)

in the case of a failure to pay an amount payable in respect of a tax credit, the end of the appeal period for the assessment of the amount in respect of which the penalty is assessed.

(4)

In subsection (2)(b), “penalty date” has the meaning given by section F8122(3).

F9(4A)

In subsection (2)(c), “penalty date” has the meaning given by section 123A(3).

(5)

In subsection (3) F10..., “appeal period” means F11...—

(a)

if no appeal is made, the period during which an appeal could be made, and

(b)

if an appeal is made, the period ending with its final determination or withdrawal.