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Finance Act 2009

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Changes over time for: Paragraph 17

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Finance Act 2009, Paragraph 17 is up to date with all changes known to be in force on or before 18 February 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. Help about Changes to Legislation

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17(1)Paragraph 46 (assessment of penalty) is amended as follows.U.K.

(2)In sub-paragraph (1)—

(a)for “or 40” substitute “ , 40 or 40A ”,

(b)omit “HMRC may”,

(c)at the beginning of paragraph (a), insert “ HMRC may ”, and

(d)at the beginning of paragraph (b), insert “ if they do so, they must ”.

(3)In sub-paragraph (2), for “within 12 months of the relevant date” substitute “ within the period of 12 months beginning with the date on which the person became liable to the penalty, subject to sub-paragraph (3) ”.

(4)For sub-paragraph (3) substitute—

(3)In a case involving an information notice against which a person may appeal, an assessment of a penalty under paragraph 39 or 40 must be made within the period of 12 months beginning with the latest of the following—

(a)the date on which the person became liable to the penalty,

(b)the end of the period in which notice of an appeal against the information notice could have been given, and

(c)if notice of such an appeal is given, the date on which the appeal is determined or withdrawn.

(4)An assessment of a penalty under paragraph 40A must be made—

(a)within the period of 12 months beginning with the date on which the inaccuracy first came to the attention of an officer of Revenue and Customs, and

(b)within the period of 6 years beginning with the date on which the person became liable to the penalty.

(5)Accordingly, in the heading omit “standard penalty or daily default”.

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