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Finance Act 2013
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7U.K.In paragraph 18 (assessment), for sub-paragraph (5) substitute—
“(5)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.”
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