http://www.legislation.gov.uk/ukpga/1988/39/section/18Finance Act 1988An Act to grant certain duties, to alter other duties, and to amend the law relating to the National Debt and the Public Revenue, and to make further provision in connection with Finance.1988-07-29texttext/xmlenStatute Law Database2024-05-23Expert Participation2024-02-22 Part II181In subsection (1) of section 15 of the Finance Act 1985 (failures to notify and unauthorised issue of invoices)—ain paragraph (a), after the words “paragraphs 3, 4 and 11(2)” there shall be inserted the words “and (3)”;bin paragraph (b), for the words “an invoice” there shall be substituted the words “one or more invoices”; andcfor the words “30 per cent.” there shall be substituted the words “the specified percentage”.2In subsection (3) of that section—ain paragraph (a), for the word “discovered” there shall be substituted the words “became fully aware of”;bin paragraph (b), after the words “sub-paragraph (2)” there shall be inserted the words “or (3)” and for the word “discovered” there shall be substituted the words “became fully aware of”; andcin paragraph (c), for the words “such an invoice as is” there shall be substituted the words “one or more such invoices as are” and for the words from “the amount” onwards there shall be substituted the wordsthe amount which is, or the aggregate of the amounts which are—ishown on the invoice or invoices as tax, oriito be taken as representing tax.3After that subsection there shall be inserted—3AFor the purposes of subsection (1) above the specified percentage is—a10 per cent. where the relevant tax is given by paragraph (a) or (b) of subsection (3) above and the period referred to in that paragraph does not exceed nine months;b20 per cent. where that tax is so given and the period so referred to exceeds nine months but does not exceed eighteen months; andc30 per cent. in any other case.4In section 18 of that Act—asubsection (2) (which provides for tax to carry interest in certain cases of conduct falling within section 15(1)(a) of that Act) shall cease to have effect; andbin subsection (3), for the words “If, in a case where subsection (2) does not apply” there shall be substituted the words “In any case where”.5Where—aa person is liable to a penalty for conduct falling within paragraph (a) of subsection (1) of section 15 of that Act; andbany relevant tax by reference to which that penalty is to be assessed is payable for a period before 16th March 1988,that subsection shall apply without the amendment made by subsection (1)(c) above in relation to so much of the assessment as is to be made by reference to that tax.6Subsections (1)(b) and (c), (2)(c) and (3) above shall be deemed to have come into force on 16th March 1988.Pt. II (ss. 13-22) repealed (1.9.1994 with effect as mentioned in s. 101(1)) by 1994 c. 23, ss. 100(2), 101(1), Sch. 151985 c. 54.