Finance Act 2021

16 (1) Where a person is liable to a penalty under this Schedule HMRC may assess the penalty. U.K.

(2) HMRC may by regulations make provision for HMRC to assess a penalty under paragraph 8 at times or intervals before the end of the further penalty period.

(3) Where HMRC assess a penalty they must notify the person and state in the notice—

(a) the failure to pay the tax due, for which the person is liable to the penalty,

(b) the amount of the penalty, and

(c) how that amount has been calculated (including the period to which the penalty relates).

(4) A penalty under this Schedule must be paid before the end of the period of 30 days beginning with the day on which notification of the penalty is issued.

(5) An assessment of a penalty under this Schedule—

(a) is to be treated for procedural purposes in the same way as an assessment to tax (except in respect of a matter expressly provided for in this Schedule),

(b) may be enforced as if it were an assessment to tax, and

(c) may be combined with an assessment to tax.

Commencement Information

I1 Sch. 26 para. 16 in force at 1.1.2023 for specified purposes by S.I. 2022/1278, reg. 2(2)