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Finance Act 2008
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- UK Public General Acts
- 2008 c. 9
- SCHEDULE 40
- Paragraph 16
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Finance Act 2008, Paragraph 16 is up to date with all changes known to be in force on or before 02 February 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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Changes and effects yet to be applied to Schedule 40 Paragraph 16:
- Sch. 41 para. 6(1A) inserted by 2015 c. 11 Sch. 20 para. 10(2)
- Sch. 41 para. 6A(A1)(1) substituted for Sch. 41 para. 6A(1) by 2015 c. 11 Sch. 20 para. 11(2)
Changes and effects yet to be applied to the whole Act associated Parts and Chapters:
Whole provisions yet to be inserted into this Act (including any effects on those provisions):
- Sch. 41 para. 6(1A) inserted by 2015 c. 11 Sch. 20 para. 10(2)
- Sch. 41 para. 6A(A1)(1) substituted for Sch. 41 para. 6A(1) by 2015 c. 11 Sch. 20 para. 11(2)
16(1)Paragraph 19 (companies: officers' liability) is amended as follows.U.K.
(2)In sub-paragraph (1), for the words from “of the company” to “as they” substitute “ of the company, the officer is liable to pay such portion of the penalty (which may be 100%) as HMRC ”.
(3)For sub-paragraph (5) substitute—
“(5)Where HMRC have specified a portion of a penalty in a notice given to an officer under sub-paragraph (1)—
(a)paragraph 11 applies to the specified portion as to a penalty,
(b)the officer must pay the specified portion before the end of the period of 30 days beginning with the day on which the notice is given,
(c)paragraph 13(2), (3) and (5) apply as if the notice were an assessment of a penalty,
(d)a further notice may be given in respect of a portion of any additional amount assessed in a supplementary assessment in respect of the penalty under paragraph 13(6),
(e)paragraphs 15(1) and (2), 16 and 17(1) to (3) and (6) apply as if HMRC had decided that a penalty of the amount of the specified portion is payable by the officer, and
(f)paragraph 21 applies as if the officer were liable to a penalty.”
Commencement Information
I1Sch. 40 para. 16 in force at 1.4.2009 by S.I. 2009/571, art. 2
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