Finance Act 2007

[F121ZA(1)A person is not liable to a penalty under paragraph 1 in respect of an inaccuracy if—U.K.

(a)the inaccuracy involves a claim by the person to exercise or rely on a VAT right (in relation to a supply) that has been denied or refused by HMRC as mentioned in subsection (4) of section 69C of VATA 1994, and

(b)the person has been assessed to a penalty under that section (and the assessment has not been successfully appealed against or withdrawn).

(2)In sub-paragraph (1)(a) “VAT right” has the same meaning as in section 69C of VATA 1994.]

Textual Amendments