SCHEDULES
SCHEDULE 17Disclosure of tax avoidance schemes: VAT and other indirect taxes
PART 2Penalties
46Assessment of penalties under paragraph 39(1)(b) or 44
1
2
An assessment may not be made more than 12 months after evidence of facts sufficient to justify the making of the assessment first comes to the knowledge of HMRC.
3
A notice of an assessment under sub-paragraph (1) stating—
a
the date on which it is issued, and
b
the time within which an appeal against the assessment may be made,
must be served on the person liable to the penalty.
4
After the notice has been served the assessment may not be altered except in accordance with this paragraph or on appeal.
5
If it is discovered by an authorised officer that the amount of a penalty assessed under this paragraph is or has become insufficient the officer may make an assessment in a further amount so that the penalty is set at the amount which, in the officer’s opinion, is correct or appropriate.
6
A penalty imposed by a decision under this paragraph—
a
is due and payable at the end of the period of 30 days beginning with the date of the issue of the notice of the decision, and
b
is to be treated for all purposes as if it were tax charged in an assessment and due and payable.
7
In this paragraph “authorised officer” means an officer of Revenue and Customs authorised by HMRC for the purposes of this paragraph.