SCHEDULES
SCHEDULE 27Schedules 24 to 26: consequential provision
20Value Added Tax Act 1994
1
Section 76 (assessment of amounts due by way of penalty, interest or surcharge) is amended as follows.
2
In the heading, for “penalty, interest or surcharge” substitute “penalty or interest”.
3
In subsection (1)—
a
omit paragraph (a) and the “or” at the end of that paragraph;
b
in the words after paragraph (d), for “penalty, interest or surcharge” substitute “penalty or interest”.
4
In subsection (3)—
a
in the words before paragraph (a), for “penalties, interest and surcharge” substitute “penalties and interest”;
b
omit paragraph (a).
5
In subsection (4), for “penalty, interest or surcharge”, in both places, substitute “penalty or interest”.
6
In subsection (5), for “penalty, interest or surcharge”, in both places, substitute “penalty or interest”.