SCHEDULES
F1SCHEDULE 43CPenalty under section 212A F3or 212B: supplementary provision
Words in Sch. 43C heading inserted (with effect in accordance with s. 124(2) of the amending Act) by Finance Act 2021 (c. 26), Sch. 32 para. 13(2)
Assessment of penalty
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1
Where a person is liable for a penalty under section 212A F4or 212B (as the case may be), HMRC must assess the penalty.
2
Where HMRC assess the penalty, HMRC must—
F5a
notify—
i
where the penalty is under section 212A, the person who is liable for it;
ii
where the penalty is under section 212B, the person who is liable for it and the responsible partner.
b
state in the notice a tax period in respect of which the penalty is assessed.
3
A penalty under this paragraph must be paid before the end of the period of 30 days beginning with the day on which notification of the penalty is issued.
4
An assessment—
a
is to be treated for procedural purposes as if it were an assessment to tax,
b
may be enforced as if it were an assessment to tax, and
c
may be combined with an assessment to tax.
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An assessment of a penalty under this paragraph must be made before the end of the period of 12 months beginning with the date (or the latest of the dates) on which the counteraction mentioned in section 212A(1)(d) F6or section 212B(1)(b) (as the case may be) becomes final (within the meaning of section 210(8)).
Sch. 43C inserted (15.9.2016) (with effect in accordance with s. 158(15) of the amending Act) by Finance Act 2016 (c. 24), s. 158(3)