SCHEDULES
C1C2C3SCHEDULE 41Penalties: failure to notify and certain VAT and excise wrongdoing
Annotations:
Modifications etc. (not altering text)
C2
Sch. 41 applied (with modifications) (22.7.2020) by Finance Act 2020 (c. 14), Sch. 16 para. 11(6) (with Sch. 16 para. 11(7))
C3
Sch. 41 applied (with modifications) (22.7.2020) by Finance Act 2020 (c. 14), Sch. 16 para. 13
Potential lost revenue
I19
In the case of—
a
the doing of an act which enables HMRC to assess an amount of duty as due under a relevant excise provision, or
b
supplying a product knowing that it will be used in a way which enables HMRC to assess an amount as duty due from another person under a relevant excise provision,
the potential lost revenue is the amount of the duty which may be assessed as due.
Sch. 41 modified (with effect in accordance with s. 42(2), Sch. 12 para. 29(1) of the amending Act) by Finance Act 2018 (c. 3), Sch. 12 paras. 33, 34