SCHEDULES
SCHEDULE 40Penalties: amendments of Schedule 24 to FA 2007
I116
1
Paragraph 19 (companies: officers' liability) is amended as follows.
2
In sub-paragraph (1), for the words from “of the company” to “as they” substitute “
of the company, the officer is liable to pay such portion of the penalty (which may be 100%) as HMRC
”
.
3
For sub-paragraph (5) substitute—
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.