Finance Act 2008, Paragraph 11 is up to date with all changes known to be in force on or before 04 March 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.
11(1)In calculating potential lost revenue in respect of a relevant act or failure on the part of P no account is to be taken of the fact that a potential loss of revenue from P is or may be balanced by a potential over-payment by another person (except to the extent that an enactment requires or permits a person's tax liability to be adjusted by reference to P's).U.K.
(2)In this Schedule “a relevant act or failure” means—
(a)a failure to comply with a relevant obligation,
(b)the making of an unauthorised issue of an invoice showing VAT,
(c)the doing of an act which enables HMRC to assess an amount of duty as due under a relevant excise provision or supplying a product knowing that it will be used in a way which enables HMRC to assess an amount as duty due from another person under a relevant excise provision, or
(d)acquiring possession of, or being concerned in dealing with, goods the payment of duty on which is outstanding and has not been deferred [F1or (as the case may be) chargeable soft drinks in respect of which a payment of soft drinks industry levy is due and payable and has not been paid].
Textual Amendments
F1Words in Sch. 41 para. 11(2)(d) inserted (6.4.2018) by Finance Act 2017 (c. 10), s. 61(1), Sch. 11 para. 2(8); S.I. 2018/464, art. 2(e)
Modifications etc. (not altering text)
C1Sch. 41 para. 11 applied (3.11.2017) by The Sections 106B, 106C and 106D of the Taxes Management Act 1970 (Specified Threshold Amount) Regulations 2017 (S.I. 2017/988), regs. 1, 4(a), 5, 6
Commencement Information
I1Sch. 41 para. 11 in force at 1.4.2010 with effect in accordance with art. 3 by S.I. 2009/511, art. 2
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