SCHEDULES
C3C11C9C1C8C6C7C10C4SCHEDULE 55Penalty for failure to make returns etc
Sch. 55 applied by S.R. 2009/128, reg. 35 (as substituted (6.4.2011) by The Education (Student Loans) (Repayment) (Amendment) Regulations (Northern Ireland) 2011 (S.R. 2011/137), regs. 1(1), 8(a) (with reg. 12))
Sch. 55 applied by S.I. 2009/470, reg. 40(1)(2) (as substituted (6.4.2011) by The Education (Student Loans) (Repayment) (Amendment) Regulations 2011 (S.I. 2011/784), regs. 1(1), 9 (with reg. 12(2)))
Sch. 55 applied (with modifications) by S.I. 2001/1004, Sch. 4 para. 21G (as inserted (with effect in accordance with reg. 1(3) of the amending S.I.) by The Social Security (Contributions) (Amendment No. 4) Regulations 2014 (S.I. 2014/2397), regs. 1(1), 3(5))
Sch. 55 applied (with modifications) by 1992 c. 4, s. 11A(1)(3) (as inserted (with effect in accordance with Sch. 1 para. 35 of the amending Act) by National Insurance Contributions Act 2015 (c. 5), Sch. 1 para. 3)
Sch. 55 applied (with modifications) by 1992 c.7 (N.I.), s. 11A(1)(3) (as inserted (with effect in accordance with Sch. 1 para. 35 of the amending Act) by National Insurance Contributions Act 2015 (c. 5), Sch. 1 para. 12)
Sch. 55 applied (with modifications) (with application in accordance with reg. 1 of the amending S.I.) by The Education (Postgraduate Masters Degree Loans) Regulations 2016 (S.I. 2016/606), regs. 1(1), 50(1)(2)
Sch. 55 modified (temp.) (with effect in accordance with Sch. 10 para. 43 of the amending Act) by Finance Act 2022 (c. 3), Sch. 10 para. 26 (as amended (5.1.2023) by S.I. 2022/1321, regs. 1, 2(2)
Assessment
I5I2I7C1I6I1I3C5C10I418
C12C21
Where P is liable for a penalty under any paragraph of this Schedule HMRC must—
a
assess the penalty,
b
notify P, and
c
state in the notice the period in respect of which the penalty is assessed.
C22
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.
C23
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.
C24
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.
F15
Sub-paragraph (6) applies if—
a
an assessment in respect of a penalty is based on a liability to tax that would have been shown in a return, and
b
that liability is found by HMRC to be excessive.
6
HMRC may by notice to P amend the assessment so that it is based upon the correct amount.
7
An amendment under sub-paragraph (6)—
a
does not affect when the penalty must be paid;
b
may be made after the last day on which the assessment in question could have been made under paragraph 19.
Sch. 55 modified (8.4.2010) by Finance Act 2010 (c. 13), Sch. 1 para. 38