No versions valid at: 01/03/2024
Point in time view as at 01/03/2024. This version of this cross heading contains provisions that are not valid for this point in time.
There are currently no known outstanding effects for the Finance Act 2021, Paragraph 13.
Valid from 06/04/2024
13(1)A supplementary assessment may be made in respect of a penalty under this Schedule if an earlier assessment—U.K.
(a)is based on a liability to tax that would have been shown in a return, and that liability is found by HMRC to be an underestimate, or
(b)is based on a liability to tax that is found by HMRC to be insufficient.
(2)Sub-paragraph (3) applies if an assessment in respect of a penalty—
(a)is based on a liability to tax that would have been shown in a return, and that liability is found by HMRC to be an overestimate, or
(b)is based on a liability to tax that is found by HMRC to be excessive.
(3)HMRC may by notice to the person amend the assessment so that it is based upon the correct amount.
(4)An amendment under sub-paragraph (3)—
(a)does not affect when the penalty must be paid;
(b)may be made after the last day on which the assessment in question could have been made under paragraph 14.
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