- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Pwynt Penodol mewn Amser (15/03/2018)
- Gwreiddiol (Fel y'i Deddfwyd)
Version Superseded: 10/06/2021
Point in time view as at 15/03/2018.
There are currently no known outstanding effects for the Finance (No. 2) Act 2017,
PART 6
.
Revised legislation carried on this site may not be fully up to date. At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial team. Please see ‘Frequently Asked Questions’ for details regarding the timescales for which new effects are identified and recorded on this site.
19(1)Where a person is liable for a penalty under paragraph 1 HMRC must—U.K.
(a)assess the penalty, and
(b)notify the person.
(2)If—
(a)HMRC do not have all the information required to determine the amount or value of the relevant consideration within the meaning of paragraph 15, and
(b)HMRC have taken all reasonable steps to obtain that information,
HMRC may assess the penalty on the basis of a reasonable estimate by HMRC of that consideration.
(3)This paragraph is subject to—
(a)paragraphs 21 and 22 (limits on when penalty may be assessed); and
(b)Part 7 of this Schedule (requirement for opinion of GAAR Advisory Panel before penalty may be assessed).
20(1)A penalty under paragraph 1 must be paid before the end of the period of 30 days beginning with the day on which notification of the penalty is issued.U.K.
(2)An assessment of a penalty under paragraph 1—
(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), and
(b)may be enforced as if it were an assessment to tax.
21(1)This paragraph applies where—U.K.
(a)a proposal for arrangements is implemented more than once, by a number of tax arrangements which are substantially the same as each other (“related arrangements”),
(b)paragraph 1 applies in relation to particular arrangements (“the arrangements concerned”) which are one of the number of related arrangements implementing the proposal, and
(c)at the time when the person who entered into the arrangements concerned incurs a defeat in respect of them, the required percentage of relevant defeats has not been reached.
(2)HMRC may not assess any penalty payable under paragraph 1 in respect of the arrangements concerned until the required percentage of relevant defeats is reached.
(3)For the purposes of this paragraph the “required percentage of relevant defeats” is reached when HMRC reasonably believe that defeats have been incurred in the case of more than 50% of the related arrangements implementing the proposal.
(4)Sub-paragraph (2) does not apply in relation to a penalty if the person liable to the penalty requests assessment of the penalty sooner than the time allowed by sub-paragraph (2).
22(1)An assessment of a person as liable to a penalty under paragraph 1 may not take place after the relevant time.U.K.
(2)In this paragraph “the relevant time” means, subject to sub-paragraphs (3) to (6)—
(a)where a GAAR final decision notice within the meaning of paragraph 24(1) has been given in relation to the arrangements to which the penalty relates, the end of 12 months beginning with the date on which T incurs the defeat mentioned in paragraph 1;
(b)where a notice under paragraph 25 has been given to the person mentioned in sub-paragraph (1) above in respect of the arrangements to which the penalty relates, the end of 12 months beginning with the end of the time allowed for making representations in respect of that notice;
(c)where—
(i)a referral has been made under paragraph 26 in respect of the arrangements to which the penalty relates, and
(ii)paragraph (d) does not apply,
the end of 12 months beginning with the date on which the opinion of the GAAR Advisory Panel is given on the referral (within the meaning given by paragraph 34(6));
(d)where a notice under paragraph 35 has been given to the person mentioned in sub-paragraph (1) above in respect of the arrangements to which the penalty relates, the end of 12 months beginning with the end of the time allowed for making representations in respect of that notice.
(3)Where—
(a)paragraph 21 prevented a penalty from being assessed before the required percentage of relevant defeats was reached, and
(b)the required percentage of relevant defeats (within the meaning of paragraph 21) has been reached,
the relevant time in relation to that penalty is whichever is the later of—
(i)the relevant time given by sub-paragraph (2), and
(ii)the end of 12 months beginning with the date on which that required percentage was reached.
(4)Where under paragraph 21(4) a person requests assessment of a penalty, the relevant time in relation to that penalty is whichever is the later of—
(a)the relevant time given by sub-paragraph (2), and
(b)the end of 12 months beginning with the date on which the request is made,
and sub-paragraph (3) does not apply to the penalty even if the required percentage of relevant defeats is reached.
(5)Sub-paragraph (6) applies where—
(a)at any time a declaration has been made under paragraph 44 for the purposes of any determination of whether a person is liable to a penalty under paragraph 1 in relation to particular arrangements (“the arrangements concerned”), and
(b)subsequently, facts that in the Commissioners' opinion are sufficient to indicate that the declaration contains a material inaccuracy have come to the Commissioners' knowledge.
(6)The relevant time in respect of any penalty under paragraph 1 payable by that person in relation to the arrangements concerned is whichever is the later of—
(a)the relevant time given by the preceding provisions of this paragraph, and
(b)the end of 12 months beginning with the date on which such facts came to the Commissioners' knowledge.
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
Y Ddeddf Gyfan you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
Y Rhestrau you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
Y Diweddaraf sydd Ar Gael (diwygiedig):Y fersiwn ddiweddaraf sydd ar gael o’r ddeddfwriaeth yn cynnwys newidiadau a wnaed gan ddeddfwriaeth ddilynol ac wedi eu gweithredu gan ein tîm golygyddol. Gellir gweld y newidiadau nad ydym wedi eu gweithredu i’r testun eto yn yr ardal ‘Newidiadau i Ddeddfwriaeth’.
Gwreiddiol (Fel y’i Deddfwyd neu y’i Gwnaed): Mae'r wreiddiol fersiwn y ddeddfwriaeth fel ag yr oedd pan gafodd ei deddfu neu eu gwneud. Ni wnaed unrhyw newidiadau i’r testun.
Pwynt Penodol mewn Amser: This becomes available after navigating to view revised legislation as it stood at a certain point in time via Advanced Features > Show Timeline of Changes or via a point in time advanced search.
Rhychwant ddaearyddol: Indicates the geographical area that this provision applies to. For further information see ‘Frequently Asked Questions’.
Dangos Llinell Amser Newidiadau: See how this legislation has or could change over time. Turning this feature on will show extra navigation options to go to these specific points in time. Return to the latest available version by using the controls above in the What Version box.
Gallwch wneud defnydd o ddogfennau atodol hanfodol a gwybodaeth ar gyfer yr eitem ddeddfwriaeth o’r tab hwn. Yn ddibynnol ar yr eitem ddeddfwriaeth sydd i’w gweld, gallai hyn gynnwys:
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Defnyddiwch y ddewislen hon i agor dogfennau hanfodol sy’n cyd-fynd â’r ddeddfwriaeth a gwybodaeth am yr eitem hon o ddeddfwriaeth. Gan ddibynnu ar yr eitem o ddeddfwriaeth sy’n cael ei gweld gall hyn gynnwys:
liciwch ‘Gweld Mwy’ neu ddewis ‘Rhagor o Adnoddau’ am wybodaeth ychwanegol gan gynnwys