Explanatory Notes

Finance Act 2015

2015 CHAPTER 11

26 March 2015

Introduction

Section 120 and Schedule 20: Penalties in Connection With Offshore Matters and Offshore Transfers

Details of the Schedule

Penalties for failure to notify

18.Paragraphs 9 to 13 make amendments to Schedule 41 in relation to the new category 0 and an offshore transfer that correspond to the amendments made to Schedule 24 by the provisions described in paragraphs 6 to 15 and 17 of this Explanatory Note. Since Schedule 41 does not apply to inheritance tax, there are no amendments in relation to that tax.