<Legislation xmlns="http://www.legislation.gov.uk/namespaces/legislation" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" DocumentURI="http://www.legislation.gov.uk/ukpga/2008/9" IdURI="http://www.legislation.gov.uk/id/ukpga/2008/9" NumberOfProvisions="1518" xsi:schemaLocation="http://www.legislation.gov.uk/namespaces/legislation http://www.legislation.gov.uk/schema/legislation.xsd" SchemaVersion="1.0" RestrictExtent="E+W+S+N.I." RestrictStartDate="2026-04-01"><ukm:Metadata xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:dct="http://purl.org/dc/terms/" xmlns:atom="http://www.w3.org/2005/Atom" xmlns:ukm="http://www.legislation.gov.uk/namespaces/metadata">
					<dc:identifier>http://www.legislation.gov.uk/ukpga/2008/9/section/123</dc:identifier><dc:title>Finance Act 2008</dc:title><dc:description>An 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.</dc:description><dc:type>text</dc:type><dc:format>text/xml</dc:format><dc:language>en</dc:language><dc:publisher>Statute Law Database</dc:publisher><dc:modified>2026-04-20</dc:modified><dc:contributor>Expert Participation</dc:contributor><dct:valid>2026-04-01</dct:valid>
					
					<atom:link rel="self" href="http://www.legislation.gov.uk/ukpga/2008/9/section/123/data.xml" type="application/xml"/><atom:link rel="http://www.legislation.gov.uk/def/navigation/resources" href="http://www.legislation.gov.uk/ukpga/2008/9/resources" title="More Resources"/>
					
					
					
					<atom:link rel="http://www.legislation.gov.uk/def/navigation/act" href="http://www.legislation.gov.uk/ukpga/2008/9" title="whole act"/><atom:link rel="http://www.legislation.gov.uk/def/navigation/introduction" href="http://www.legislation.gov.uk/ukpga/2008/9/introduction" title="introduction"/>
					<atom:link rel="http://www.legislation.gov.uk/def/navigation/body" href="http://www.legislation.gov.uk/ukpga/2008/9/body" title="body"/>
					<atom:link rel="http://www.legislation.gov.uk/def/navigation/schedules" href="http://www.legislation.gov.uk/ukpga/2008/9/schedules" title="schedules"/>
					
										
					
					
					
					<atom:link rel="alternate" type="application/rdf+xml" href="http://www.legislation.gov.uk/ukpga/2008/9/section/123/data.rdf" title="RDF/XML"/><atom:link rel="alternate" type="application/akn+xml" href="http://www.legislation.gov.uk/ukpga/2008/9/section/123/data.akn" title="AKN"/><atom:link rel="alternate" type="application/xhtml+xml" href="http://www.legislation.gov.uk/ukpga/2008/9/section/123/data.xht" title="HTML snippet"/><atom:link rel="alternate" type="text/html" href="http://www.legislation.gov.uk/ukpga/2008/9/section/123/data.htm" title="Website (XHTML) Default View"/><atom:link rel="alternate" type="text/csv" href="http://www.legislation.gov.uk/ukpga/2008/9/section/123/data.csv" title="CSV"/><atom:link rel="alternate" type="application/pdf" href="http://www.legislation.gov.uk/ukpga/2008/9/section/123/data.pdf" title="PDF"/>
					<atom:link rel="alternate" type="application/akn+xhtml" href="http://www.legislation.gov.uk/ukpga/2008/9/section/123/data.html" title="HTML5 snippet"/>

					
					<atom:link rel="http://purl.org/dc/terms/tableOfContents" hreflang="en" href="http://www.legislation.gov.uk/ukpga/2008/9/contents" title="Table of Contents"/>
					
					<atom:link rel="http://purl.org/dc/terms/hasVersion" href="http://www.legislation.gov.uk/ukpga/2008/9/section/123/enacted" title="enacted"/><atom:link rel="http://purl.org/dc/terms/hasVersion" href="http://www.legislation.gov.uk/ukpga/2008/9/section/123/2008-07-21" title="2008-07-21"/>
					
					<atom:link rel="up" href="http://www.legislation.gov.uk/ukpga/2008/9" title="Entire legislation"/><atom:link rel="prev" href="http://www.legislation.gov.uk/ukpga/2008/9/section/122" title="Provision; Section 122"/><atom:link rel="prevInForce" href="http://www.legislation.gov.uk/ukpga/2008/9/section/122" title="Provision; Section 122"/><atom:link rel="next" href="http://www.legislation.gov.uk/ukpga/2008/9/section/124" title="Provision; Section 124"/><atom:link rel="nextInForce" href="http://www.legislation.gov.uk/ukpga/2008/9/section/124" title="Provision; Section 124"/>
					<ukm:PrimaryMetadata><ukm:DocumentClassification><ukm:DocumentCategory Value="primary"/><ukm:DocumentMainType Value="UnitedKingdomPublicGeneralAct"/><ukm:DocumentStatus Value="revised"/></ukm:DocumentClassification><ukm:Year Value="2008"/><ukm:Number Value="9"/><ukm:EnactmentDate Date="2008-07-21"/><ukm:ISBN Value="9780105409083"/><ukm:UnappliedEffects><ukm:UnappliedEffect AffectedURI="http://www.legislation.gov.uk/id/ukpga/2008/9" Type="words substituted" AffectingNumber="1043" AffectingURI="http://www.legislation.gov.uk/id/uksi/2011/1043" AffectingEffectsExtent="E+W+S+N.I." AffectedNumber="9" AffectedClass="UnitedKingdomPublicGeneralAct" Modified="2024-01-31T08:57:48Z" AffectedYear="2008" Comments="No amendment required - No amendment required - No amendment required - No amendment required - No amendment required" AffectedExtent="E+W+S+N.I." AffectingClass="UnitedKingdomStatutoryInstrument" RequiresApplied="false" AffectingProvisions="art. 3 4" URI="http://www.legislation.gov.uk/id/effect/key-85832d005429237e9b1f60b7b65a568e" Row="978" AffectedProvisions="Blanket amendment" AffectingYear="2011" EffectId="key-85832d005429237e9b1f60b7b65a568e"><ukm:AffectedTitle>Finance Act 2008</ukm:AffectedTitle><ukm:AffectedProvisions>Blanket amendment</ukm:AffectedProvisions><ukm:AffectingTitle>The Treaty of Lisbon (Changes in Terminology) Order 2011</ukm:AffectingTitle><ukm:AffectingProvisions><ukm:Section Ref="article-3" URI="http://www.legislation.gov.uk/id/uksi/2011/1043/article/3">art. 3</ukm:Section> <ukm:Section Ref="article-4" URI="http://www.legislation.gov.uk/id/uksi/2011/1043/article/4">4</ukm:Section></ukm:AffectingProvisions><ukm:Savings><ukm:Section Ref="article-3-2" URI="http://www.legislation.gov.uk/id/uksi/2011/1043/article/3/2">art. 3(2)</ukm:Section><ukm:Section Ref="article-3-3" URI="http://www.legislation.gov.uk/id/uksi/2011/1043/article/3/3">art. 3(3)</ukm:Section> <ukm:Section Ref="article-4-2" URI="http://www.legislation.gov.uk/id/uksi/2011/1043/article/4/2">4(2)</ukm:Section> <ukm:Section Ref="article-6-4" URI="http://www.legislation.gov.uk/id/uksi/2011/1043/article/6/4">6(4)</ukm:Section><ukm:Section Ref="article-6-5" URI="http://www.legislation.gov.uk/id/uksi/2011/1043/article/6/5">(5)</ukm:Section></ukm:Savings><ukm:CommencementAuthority><ukm:Section Ref="article-2" URI="http://www.legislation.gov.uk/id/uksi/2011/1043/article/2">art. 2</ukm:Section></ukm:CommencementAuthority><ukm:InForceDates><ukm:InForce Date="2011-04-22" Qualification="wholly in force"/></ukm:InForceDates></ukm:UnappliedEffect><ukm:UnappliedEffect AffectingNumber="11" AffectingYear="2015" AffectedURI="http://www.legislation.gov.uk/id/ukpga/2008/9" AffectingEffectsExtent="E+W+S+N.I." AffectedNumber="9" AffectedYear="2008" AffectingProvisions="Sch. 20 para. 10(2)" AffectingClass="UnitedKingdomPublicGeneralAct" AffectedClass="UnitedKingdomPublicGeneralAct" EffectId="key-3926d56b9e471e52a06b16107f63c9d0" URI="http://www.legislation.gov.uk/id/effect/key-3926d56b9e471e52a06b16107f63c9d0" AffectingURI="http://www.legislation.gov.uk/id/ukpga/2015/11" AffectedProvisions="Sch. 41 para. 6(1A)" Modified="2024-01-31T08:57:48Z" Type="inserted" Row="870" RequiresApplied="true"><ukm:AffectedTitle>Finance Act 2008</ukm:AffectedTitle><ukm:AffectedProvisions><ukm:Section Ref="schedule-41" URI="http://www.legislation.gov.uk/id/ukpga/2008/9/schedule/41">Sch. 41 </ukm:Section><ukm:Section Ref="schedule-41-paragraph-6-1A" URI="http://www.legislation.gov.uk/id/ukpga/2008/9/schedule/41/paragraph/6/1A" FoundRef="schedule-41-paragraph-6">para. 6(1A)</ukm:Section></ukm:AffectedProvisions><ukm:AffectingTitle>Finance Act 2015</ukm:AffectingTitle><ukm:AffectingProvisions><ukm:Section Ref="schedule-20" URI="http://www.legislation.gov.uk/id/ukpga/2015/11/schedule/20">Sch. 20 </ukm:Section><ukm:Section Ref="schedule-20-paragraph-10-2" URI="http://www.legislation.gov.uk/id/ukpga/2015/11/schedule/20/paragraph/10/2">para. 10(2)</ukm:Section></ukm:AffectingProvisions><ukm:CommencementAuthority><ukm:Section Ref="section-120-2" URI="http://www.legislation.gov.uk/id/ukpga/2015/11/section/120/2">s. 120(2)</ukm:Section></ukm:CommencementAuthority><ukm:InForceDates><ukm:InForce Applied="false" Prospective="true" Qualification=""/></ukm:InForceDates></ukm:UnappliedEffect><ukm:UnappliedEffect EffectId="key-254d76663e8709c16f1bd8537923f0f7" RequiresApplied="true" AffectedURI="http://www.legislation.gov.uk/id/ukpga/2008/9" AffectingNumber="11" AffectedClass="UnitedKingdomPublicGeneralAct" AffectedProvisions="Sch. 41 para. 6A(A1)(1)" AffectedYear="2008" URI="http://www.legislation.gov.uk/id/effect/key-254d76663e8709c16f1bd8537923f0f7" AffectingProvisions="Sch. 20 para. 11(2)" AffectingYear="2015" Row="882" AffectingEffectsExtent="E+W+S+N.I." Type="substituted for Sch. 41 para. 6A(1)" AffectingURI="http://www.legislation.gov.uk/id/ukpga/2015/11" Modified="2024-01-31T08:57:48Z" AffectedNumber="9" AffectingClass="UnitedKingdomPublicGeneralAct"><ukm:AffectedTitle>Finance Act 2008</ukm:AffectedTitle><ukm:AffectedProvisions><ukm:Section Ref="schedule-41" URI="http://www.legislation.gov.uk/id/ukpga/2008/9/schedule/41">Sch. 41 </ukm:Section><ukm:Section Ref="schedule-41-paragraph-6A-A1" URI="http://www.legislation.gov.uk/id/ukpga/2008/9/schedule/41/paragraph/6A/A1" FoundRef="schedule-41-paragraph-6A">para. 6A(A1)</ukm:Section><ukm:Section Ref="schedule-41-paragraph-6A-1" URI="http://www.legislation.gov.uk/id/ukpga/2008/9/schedule/41/paragraph/6A/1">(1)</ukm:Section></ukm:AffectedProvisions><ukm:AffectingTitle>Finance Act 2015</ukm:AffectingTitle><ukm:AffectingProvisions><ukm:Section Ref="schedule-20" URI="http://www.legislation.gov.uk/id/ukpga/2015/11/schedule/20">Sch. 20 </ukm:Section><ukm:Section Ref="schedule-20-paragraph-11-2" URI="http://www.legislation.gov.uk/id/ukpga/2015/11/schedule/20/paragraph/11/2">para. 11(2)</ukm:Section></ukm:AffectingProvisions><ukm:CommencementAuthority><ukm:Section Ref="section-120-2" URI="http://www.legislation.gov.uk/id/ukpga/2015/11/section/120/2">s. 120(2)</ukm:Section></ukm:CommencementAuthority><ukm:InForceDates><ukm:InForce Applied="false" Prospective="true" Qualification=""/></ukm:InForceDates></ukm:UnappliedEffect></ukm:UnappliedEffects></ukm:PrimaryMetadata>
					

                    
									 
					<ukm:Alternatives>
      <ukm:Alternative Date="2008-07-22" URI="http://www.legislation.gov.uk/ukpga/2008/9/pdfs/ukpga_20080009_en.pdf" Title="Print Version"/>
   </ukm:Alternatives>
					
					<ukm:Statistics>
									<ukm:TotalParagraphs Value="1542"/>
									<ukm:BodyParagraphs Value="201"/>
									<ukm:ScheduleParagraphs Value="1341"/>
									<ukm:AttachmentParagraphs Value="0"/>
									<ukm:TotalImages Value="37"/>
								</ukm:Statistics>
				</ukm:Metadata><Primary><Body DocumentURI="http://www.legislation.gov.uk/ukpga/2008/9/body" IdURI="http://www.legislation.gov.uk/id/ukpga/2008/9/body" NumberOfProvisions="201" RestrictStartDate="2026-04-01"><Part DocumentURI="http://www.legislation.gov.uk/ukpga/2008/9/part/7" IdURI="http://www.legislation.gov.uk/id/ukpga/2008/9/part/7" NumberOfProvisions="29" id="part-7" RestrictStartDate="2020-03-20"><Number>
          <Strong>Part 7</Strong>
        </Number><Title>Administration</Title><Chapter DocumentURI="http://www.legislation.gov.uk/ukpga/2008/9/part/7/chapter/3" IdURI="http://www.legislation.gov.uk/id/ukpga/2008/9/part/7/chapter/3" NumberOfProvisions="2" id="part-7-chapter-3" RestrictStartDate="2008-07-21"><Number>Chapter 3</Number><Title>Penalties</Title><P1group RestrictStartDate="2008-07-21" ConfersPower="true"><Title>Penalties for failure to notify <Abbreviation Expansion="Et cetera" xml:lang="la">etc</Abbreviation></Title><P1 DocumentURI="http://www.legislation.gov.uk/ukpga/2008/9/section/123" IdURI="http://www.legislation.gov.uk/id/ukpga/2008/9/section/123" id="section-123"><Pnumber PuncAfter="">123</Pnumber><P1para><P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2008/9/section/123/1" IdURI="http://www.legislation.gov.uk/id/ukpga/2008/9/section/123/1" id="section-123-1"><Pnumber>1</Pnumber><P2para><Text>Schedule 41 contains provisions for imposing penalties on persons in respect of failures to notify <Acronym Expansion="Her Majesty's Revenue and Customs">HMRC</Acronym> that they are chargeable to tax etc and certain wrongdoings relating to invoices showing <Acronym Expansion="Value Added Tax">VAT</Acronym> and excise duties.</Text></P2para></P2><P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2008/9/section/123/2" IdURI="http://www.legislation.gov.uk/id/ukpga/2008/9/section/123/2" id="section-123-2"><Pnumber>2</Pnumber><P2para><Text>That Schedule comes into force on such day as the Treasury may by order appoint.</Text></P2para></P2><P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2008/9/section/123/3" IdURI="http://www.legislation.gov.uk/id/ukpga/2008/9/section/123/3" id="section-123-3"><Pnumber>3</Pnumber><P2para><Text>An order under subsection (2)—</Text><P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2008/9/section/123/3/a" IdURI="http://www.legislation.gov.uk/id/ukpga/2008/9/section/123/3/a" id="section-123-3-a"><Pnumber>a</Pnumber><P3para><Text>may commence a provision generally or only for specified purposes, and</Text></P3para></P3><P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2008/9/section/123/3/b" IdURI="http://www.legislation.gov.uk/id/ukpga/2008/9/section/123/3/b" id="section-123-3-b"><Pnumber>b</Pnumber><P3para><Text>may appoint different days for different provisions or for different purposes.</Text></P3para></P3></P2para></P2><P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2008/9/section/123/4" IdURI="http://www.legislation.gov.uk/id/ukpga/2008/9/section/123/4" id="section-123-4"><Pnumber>4</Pnumber><P2para><Text>The Treasury may by order make any incidental, supplemental, consequential, transitional, transitory or saving provision which may appear appropriate in consequence of, or otherwise in connection with, Schedule 41.</Text></P2para></P2><P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2008/9/section/123/5" IdURI="http://www.legislation.gov.uk/id/ukpga/2008/9/section/123/5" id="section-123-5"><Pnumber>5</Pnumber><P2para><Text>An order under subsection (4) may include provision amending, repealing or revoking any provision of any Act or subordinate legislation whenever passed or made (including this Act and any Act amended by it).</Text></P2para></P2><P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2008/9/section/123/6" IdURI="http://www.legislation.gov.uk/id/ukpga/2008/9/section/123/6" id="section-123-6"><Pnumber>6</Pnumber><P2para><Text>An order under subsection (4) may make different provision for different purposes.</Text></P2para></P2><P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2008/9/section/123/7" IdURI="http://www.legislation.gov.uk/id/ukpga/2008/9/section/123/7" id="section-123-7"><Pnumber>7</Pnumber><P2para><Text>The power to make an order under this section is exercisable by statutory instrument.</Text></P2para></P2><P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2008/9/section/123/8" IdURI="http://www.legislation.gov.uk/id/ukpga/2008/9/section/123/8" id="section-123-8"><Pnumber>8</Pnumber><P2para><Text>A statutory instrument containing an order under subsection (4) which includes provision amending or repealing any provision of an Act is subject to annulment in pursuance of a resolution of the House of Commons.</Text></P2para></P2></P1para></P1></P1group></Chapter></Part></Body></Primary></Legislation>