SCHEDULES

SCHEDULE 18Requirement to correct certain offshore tax non-compliance

PART 1Liability for penalty for failure to correct

Failure to correct relevant offshore tax non-compliance

1

A penalty is payable by a person who—

a

has any relevant offshore tax non-compliance to correct at the end of the tax year 2016-17, and

b

fails to correct the relevant offshore tax non-compliance within the period beginning with 6 April 2017 and ending with 30 September 2018 (referred to in this Schedule as “the RTC period”).