SCHEDULES

SCHEDULE 27Schedules 24 to 26: consequential provision

Value Added Tax Act 1994

I1I220

1

Section 76 (assessment of amounts due by way of penalty, interest or surcharge) is amended as follows.

2

In the heading, for “penalty, interest or surcharge” substitute “ penalty or interest ”.

3

In subsection (1)—

a

omit paragraph (a) and the “or” at the end of that paragraph;

b

in the words after paragraph (d), for “penalty, interest or surcharge” substitute “ penalty or interest ”.

4

In subsection (3)—

a

in the words before paragraph (a), for “penalties, interest and surcharge” substitute “ penalties and interest ”;

b

omit paragraph (a).

5

In subsection (4), for “penalty, interest or surcharge”, in both places, substitute “ penalty or interest ”.

6

In subsection (5), for “penalty, interest or surcharge”, in both places, substitute “ penalty or interest ”.