SCHEDULES

C2C5C6C1C3C4C7SCHEDULE 56Penalty for failure to make payments on time

Annotations:
Modifications etc. (not altering text)
C2

Sch. 56 applied (with modifications) by SR 2009/128, reg 63(3) (as substituted (with effect in accordance with reg. 2 of the amending Rule) by The Education (Student Loans) (Repayment) (Amendment) Regulations (Northern Ireland) 2010 (S.R. 2010/91), regs. 1, 7(1))

C5

Sch. 56 applied (with modifications) by SI 2009/470 reg. 68(3) (as substituted (with application in accordance with reg. 1(2) of the amending S.I.) by The Education (Student Loans) (Repayment) (Amendment) Regulations 2010 (S.I. 2010/661), regs. 1(1), 6)

C6

Sch. 56 applied (with modifications) by SI 2001/1004 reg. 67B (as inserted (with application in accordance with reg. 1(3) of the amending S.I.) by The Social Security (Contributions) (Amendment No. 4) Regulations 2010 (S.I. 2010/721), regs. 1(2), 3)

C1

Sch. 56 applied (with modifications) by SI 2001/1004 reg. 67A (as inserted (with application in accordance with reg. 1(3) of the amending S.I.) by The Social Security (Contributions) (Amendment No. 4) Regulations 2010 (S.I. 2010/721), regs. 1(2), 3)

C3

Sch. 56 modified (8.4.2010) by Finance Act 2010 (c. 13), Sch. 1 para. 39

C4

Sch. 56 applied by SR 2009/128, reg. 31 (as substituted (6.4.2011) by The Education (Student Loans) (Repayment) (Amendment) Regulations (Northern Ireland) 2011 (S.R. 2011/137), regs. 1(1), 6 (with reg. 12))

C7

Sch. 56 applied by S.I. 2009/470 reg. 36 (as substituted (6.4.2011) by The Education (Student Loans) (Repayment) (Amendment) Regulations 2011 (S.I. 2011/784), regs. 1(1), 7 (with reg. 12(1)))

Amount of penalty: occasional amounts and amounts in respect of periods of 6 months or more

I5I1I43

1

This paragraph applies in the case of—

a

a payment of tax falling within any of items 1, 3 and 7 to 24 in the Table,

F2aa

a payment of tax falling within item 6ZB in the Table,

b

a payment of tax falling within item 2 or 4 which relates to a period of 6 months or more, and

c

a payment of tax falling within item 2 which is payable under regulations under section 688A of ITEPA 2003 (recovery from other persons of amounts due from managed service companies).

2

P is liable to a penalty of 5% of the unpaid tax.

3

If any amount of the tax is unpaid after the end of the period of 5 months beginning with the penalty date, P is liable to a penalty of 5% of that amount.

4

If any amount of the tax is unpaid after the end of the period of 11 months beginning with the penalty date, P is liable to a penalty of 5% of that amount.

I3I2I64

1

This paragraph applies in the case of a payment of tax falling within item 5F1, 6 or 6ZZA in the Table.

2

P is liable to a penalty of 5% of the unpaid tax.

3

If any amount of the tax is unpaid after the end of the period of 3 months beginning with the penalty date, P is liable to a penalty of 5% of that amount.

4

If any amount of the tax is unpaid after the end of the period of 9 months beginning with the penalty date, P is liable to a penalty of 5% of that amount.