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Finance Act 2007

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Changes over time for: Cross Heading: Companies: officers' liability

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Changes to legislation:

Finance Act 2007, Cross Heading: Companies: officers' liability is up to date with all changes known to be in force on or before 14 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

Companies: officers' liabilityU.K.

19(1)Where a penalty under paragraph 1 is payable by a company for a deliberate inaccuracy which was attributable to an officer [F1of the company, the officer is liable to pay such portion of the penalty (which may be 100%) as HMRC] may specify by written notice to the officer. U.K.

(2)Sub-paragraph (1) does not allow HMRC to recover more than 100% of a penalty.

(3)In the application of sub-paragraph (1) to a body corporate [F2other than a limited liability partnership]officer” means—

(a)a director (including a shadow director within the meaning of section 251 of the Companies Act 2006 (c. 46)), F3...

[F4(aa)a manager, and]

(b)a secretary.

[F5(3A)In the application of sub-paragraph (1) to a limited liability partnership, “officer” means a member.]

(4)In the application of sub-paragraph (1) in any other case “officer” means—

(a)a director,

(b)a manager,

(c)a secretary, and

(d)any other person managing or purporting to manage any of the company's affairs.

[F6(5)Where HMRC have specified a portion of a penalty in a notice given to an officer under sub-paragraph (1)—

(a)paragraph 11 applies to the specified portion as to a penalty,

(b)the officer must pay the specified portion before the end of the period of 30 days beginning with the day on which the notice is given,

(c)paragraph 13(2), (3) and (5) apply as if the notice were an assessment of a penalty,

(d)a further notice may be given in respect of a portion of any additional amount assessed in a supplementary assessment in respect of the penalty under paragraph 13(6),

(e)paragraphs 15(1) and (2), 16 and 17(1) to (3) and (6) apply as if HMRC had decided that a penalty of the amount of the specified portion is payable by the officer, and

(f)paragraph 21 applies as if the officer were liable to a penalty.]

[F7(6)In this paragraph “company” means any body corporate or unincorporated association, but does not include a partnership, a local authority or a local authority association.]

Textual Amendments

F1Words in Sch. 24 para. 19(1) substituted (1.4.2009) by Finance Act 2008 (c. 9), s. 122(2), Sch. 40 para. 16(2); S.I. 2009/571, art. 2

F2Words in Sch. 24 para. 19(3) inserted (21.7.2009) by Finance Act 2009 (c. 10), Sch. 57 para. 7(2)(a)

F3Word in Sch. 24 para. 19(3)(a) omitted (21.7.2009) by virtue of Finance Act 2009 (c. 10), Sch. 57 para. 7(2)(b)

F4Sch. 24 para. 19(3)(aa) inserted (21.7.2009) by Finance Act 2009 (c. 10), Sch. 57 para. 7(2)(c)

F5Sch. 24 para. 19(3A) inserted (21.7.2009) by Finance Act 2009 (c. 10), Sch. 57 para. 7(3)

F6Sch. 24 para. 19(5) substituted (1.4.2009) by Finance Act 2008 (c. 9), s. 122(2), Sch. 40 para. 16(3); S.I. 2009/571, art. 2

F7Sch. 24 para. 19(6) inserted (21.7.2009) by Finance Act 2009 (c. 10), Sch. 57 para. 7(4)

Commencement Information

I1Sch. 24 para. 19 in force at 1.4.2008 for certain purposes, 1.7.2008 for certain purposes, 1.1.2009 for certain purposes, and 1.4.2009 in so far as not already in force by S.I. 2008/568, art. 2 (with art. 3)

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