127Assessment of penalties under Chapter 2E+W
This section has no associated Explanatory Notes
(1)Where a person becomes liable to a penalty under this Chapter, WRA must—
(a)assess the penalty,
(b)issue notice to the person of the penalty assessed, and
(c)state in the notice the period [, transaction or amount] in respect of which the penalty has been assessed.
(2)An assessment of a penalty under this Chapter may be combined with an assessment to a devolved tax.
(3)A supplementary assessment may be made in respect of a penalty under section 119 or 120 if an earlier assessment operated by reference to an underestimate of the amount of devolved tax to which a person would have been liable if a tax return had been made.
(4)If—
(a)an assessment in respect of a penalty under section 119 or 120 is based on the amount of devolved tax to which a person would have been liable if a tax return had been made, and
(b)that liability is found by WRA to be excessive,
WRA may issue a notice to the person liable to the penalty amending the assessment so that it is based on the correct amount.
(5)A supplementary assessment may be made in respect of a penalty under section 122 [, 122ZA] [or 122A] if an earlier assessment operated by reference to an underestimate of the amount of devolved tax which was payable.
(6)If an assessment in respect of a penalty under section 122 [, 122ZA] [or 122A] is based on an amount of tax payable that is found by WRA to be excessive, WRA may issue a notice to the person liable to the penalty amending the assessment so that it is based on the correct amount.
[(6A)A supplementary assessment may be made in respect of a penalty under section 123A if an earlier assessment operated by reference to an underestimate of the amount payable in respect of the tax credit in question.
(6B)If an assessment in respect of a penalty under section 123A is based on an amount that is found by WRA to be excessive, WRA may issue a notice to the person liable to the penalty amending the assessment so that it is based on the correct amount.]
(7)An amendment made under subsection (4) [, (6) or (6B)] —
(a)does not affect when the penalty must be paid, and
(b)may be made after the last day on which the assessment in question could have been made under section 128.
Textual Amendments
Modifications etc. (not altering text)
Commencement Information