No versions valid at: 19/07/2007
Point in time view as at 19/07/2007. This version of this cross heading contains provisions that are not valid for this point in time.
Finance Act 2007, Cross Heading: Interaction with other penalties is up to date with all changes known to be in force on or before 01 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.
Valid from 01/04/2008
12(1)The final entry in the Table in paragraph 1 excludes a document in respect of which a penalty is payable under section 98 of TMA 1970 (special returns).U.K.
(2)The amount of a penalty for which P is liable under paragraph 1 or 2 in respect of a document relating to a tax period shall be reduced by the amount of any other penalty which P has incurred and the amount of which is determined by reference to P's tax liability for that period.
(3)In the application of section 97A of TMA 1970 (multiple penalties) no account shall be taken of a penalty under paragraph 1 or 2.
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