Finance Act 2008

[F149A(1)This paragraph applies if—U.K.

(a)a penalty under paragraph 40 is assessed under paragraph 46 in respect of a person's failure to comply with a notice under paragraph 5,

(b)the failure continues for more than 30 days beginning with the date on which notification of that assessment was issued, and

(c)the person has been told that an application may be made under this paragraph for an increased daily penalty to be [F2assessable].

(2)If this paragraph applies, an officer of Revenue and Customs may make an application to the tribunal for an increased daily penalty to be [F3assessable] on the person.

[F4(3)If the tribunal decides that an increased daily penalty should be assessable—

(a)the tribunal must determine the day from which the increased daily penalty is to apply and the maximum amount of that penalty (“the new maximum amount”), and

(b)from that day, paragraph 40(2) has effect in the person's case as if the new maximum amount were substituted for the amount for the time being specified there.

(4)The new maximum amount may not be more than £1,000.]

(5)But subject to that, in determining [F5the new maximum amount] the tribunal must have regard to—

(a)the likely cost to the person of complying with the notice,

(b)any benefits to the person of not complying with it, and

(c)any benefits to anyone else resulting from the person's non-compliance.

(6)Paragraph 41 applies in relation to the sum specified in sub-paragraph (4) as it applies in relation to the sums mentioned in paragraph 41(1) [F6but as if the reference in paragraph 41(2)(a) to this Act were to FA 2021].]

Textual Amendments

F1Sch. 36 paras. 49A-49C and cross-heading inserted (with effect in accordance with Sch. 24 para. 4(2) of the amending Act) by Finance Act 2011 (c. 11), Sch. 24 para. 4(1)