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Finance Act 2008
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- UK Public General Acts
- 2008 c. 9
- SCHEDULE 36
- Part 7
- Increased daily default penalty
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Changes over time for: Cross Heading: Increased daily default penalty
Alternative versions:
- 19/07/2011- Amendment
- 10/06/2021- Amendment
- 01/04/2022
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Point in time view as at 01/04/2022.
Changes to legislation:
Finance Act 2008, Cross Heading: Increased daily default penalty is up to date with all changes known to be in force on or before 25 December 2024. 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.
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[F1Increased daily default penaltyU.K.
Textual Amendments
F1Sch. 36 paras. 49A-49C and cross-heading inserted (with effect in accordance with Sch. 24 para. 4(2) of the amending Act) by Finance Act 2011 (c. 11), Sch. 24 para. 4(1)
49A(1)This paragraph applies if—U.K.
(a)a penalty under paragraph 40 is assessed under paragraph 46 in respect of a person's failure to comply with a notice under paragraph 5,
(b)the failure continues for more than 30 days beginning with the date on which notification of that assessment was issued, and
(c)the person has been told that an application may be made under this paragraph for an increased daily penalty to be [F2assessable].
(2)If this paragraph applies, an officer of Revenue and Customs may make an application to the tribunal for an increased daily penalty to be [F3assessable] on the person.
[F4(3)If the tribunal decides that an increased daily penalty should be assessable—
(a)the tribunal must determine the day from which the increased daily penalty is to apply and the maximum amount of that penalty (“the new maximum amount”), and
(b)from that day, paragraph 40(2) has effect in the person's case as if the new maximum amount were substituted for the amount for the time being specified there.
(4)The new maximum amount may not be more than £1,000.]
(5)But subject to that, in determining [F5the new maximum amount] the tribunal must have regard to—
(a)the likely cost to the person of complying with the notice,
(b)any benefits to the person of not complying with it, and
(c)any benefits to anyone else resulting from the person's non-compliance.
(6)Paragraph 41 applies in relation to the sum specified in sub-paragraph (4) as it applies in relation to the sums mentioned in paragraph 41(1) [F6but as if the reference in paragraph 41(2)(a) to this Act were to FA 2021].
Textual Amendments
F2Word in Sch. 36 para. 49A(1)(c) substituted (10.6.2021) by Finance Act 2021 (c. 26), Sch. 34 para. 5(2)
F3Word in Sch. 36 para. 49A(2) substituted (10.6.2021) by Finance Act 2021 (c. 26), Sch. 34 para. 5(3)
F4Sch. 36 para. 49A(3)(4) substituted (10.6.2021) by Finance Act 2021 (c. 26), Sch. 34 para. 5(4)
F5Words in Sch. 36 para. 49A(5) substituted (10.6.2021) by Finance Act 2021 (c. 26), Sch. 34 para. 5(5)
F6Words in Sch. 36 para. 49A(6) inserted (10.6.2021) by Finance Act 2021 (c. 26), Sch. 34 para. 5(6)
49B(1)If [F7the tribunal makes a determination] under paragraph 49A, HMRC must notify the person.U.K.
(2)The notification must specify [F8the new maximum amount and the day from which it applies].
F9(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]
Textual Amendments
F7Words in Sch. 36 para. 49B(1) substituted (10.6.2021) by Finance Act 2021 (c. 26), Sch. 34 para. 6(2)
F8Words in Sch. 36 para. 49B(2) substituted (10.6.2021) by Finance Act 2021 (c. 26), Sch. 34 para. 6(3)
F9Sch. 36 para. 49B(3) omitted (10.6.2021) by virtue of Finance Act 2021 (c. 26), Sch. 34 para. 6(4)
F1049CU.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F10Sch. 36 para. 49C omitted (10.6.2021) by virtue of Finance Act 2021 (c. 26), Sch. 34 para. 7
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