SCHEDULES

C1C5C3C2C4C6SCHEDULE 24Penalties for errors

Annotations:
Modifications etc. (not altering text)
C4

Sch. 24 modified (8.4.2010) by Finance Act 2010 (c. 13), Sch. 1 para. 37

C6

Sch. 24 applied (with modifications) (19.4.2013) by The Small Charitable Donations Regulations 2013 (S.I. 2013/938), regs. 1, 15

Part 3Procedure

Suspension

I114

1

HMRC may suspend all or part of a penalty for a careless inaccuracy under paragraph 1 by notice in writing to P.

2

A notice must specify—

a

what part of the penalty is to be suspended,

b

a period of suspension not exceeding two years, and

c

conditions of suspension to be complied with by P.

3

HMRC may suspend all or part of a penalty only if compliance with a condition of suspension would help P to avoid becoming liable to further penalties under paragraph 1 for careless inaccuracy.

4

A condition of suspension may specify—

a

action to be taken, and

b

a period within which it must be taken.

5

On the expiry of the period of suspension—

a

if P satisfies HMRC that the conditions of suspension have been complied with, the suspended penalty or part is cancelled, and

b

otherwise, the suspended penalty or part becomes payable.

6

If, during the period of suspension of all or part of a penalty under paragraph 1, P becomes liable for another penalty under that paragraph, the suspended penalty or part becomes payable.