18(1)Where P is liable for a penalty under any paragraph of this Schedule HMRC must—U.K.
(a)assess the penalty,
(b)notify P, and
(c)state in the notice the period in respect of which the penalty is assessed.
(2)A penalty under any paragraph of this Schedule must be paid before the end of the period of 30 days beginning with the day on which notification of the penalty is issued.
(3)An assessment of a penalty under any paragraph of this Schedule—
(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.
(4)A supplementary assessment may be made in respect of a penalty if an earlier assessment operated by reference to an underestimate of the liability to tax which would have been shown in a return.
[F1(5)A replacement assessment may be made in respect of a penalty if an earlier assessment operated by reference to an overestimate of the liability to tax which would have been shown in a return.]
Textual Amendments
F1Sch. 55 para. 18(5) inserted (1.4.2011 for specified purposes, 6.4.2011 for specified purposes, 6.10.2011 for specified purposes) by Finance (No. 3) Act 2010 (c. 33), s. 26(2), Sch. 10 para. 10; S.I. 2011/703, art. 2(a)(b); S.I. 2011/2391, art. 2(a) (with art. 3)
Commencement Information
I1Sch. 55 para. 18 in force at 1.4.2011 for specified purposes and 6.4.2011 for specified purposes by S.I. 2011/702, art. 2 (with art. 1(2))