Search Legislation

Finance Act 2021

 Help about what version

What Version

 Help about advanced features

Advanced Features

 Help about opening options

Opening OptionsExpand opening options

Changes over time for: Paragraph 44

 Help about opening options

No versions valid at: 01/03/2024

Alternative versions:

Status:

Point in time view as at 01/03/2024.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. Help about Status

Changes to legislation:

There are currently no known outstanding effects for the Finance Act 2021, Paragraph 44. Help about Changes to Legislation

Valid from 06/04/2024

44(1)Schedule 21 to FA 2015 (penalties in connection with offshore asset moves) is amended as follows.U.K.

(2)In paragraph 1(2), at the beginning of paragraph (b) insert “ where the original penalty is a penalty specified in paragraph (a), (b), (c) or (d) of paragraph 2, ”.

(3)In paragraph 2—

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

(b)at the end of paragraph (d) insert , and

(e)a penalty under paragraph 3 of Schedule 25 to FA 2021 (penalties for deliberately withholding information), where the tax at stake is income tax or capital gains tax.

(4)In paragraph 5—

(a)in sub-paragraph (4), in the words before paragraph (a)—

(i)after “original penalty is” insert “ a penalty under paragraph 6 of Schedule 55 to FA 2009 ”;

(ii)for “Schedule 55 to FA 2009” substitute “ that Schedule ”;

(b)after sub-paragraph (5) insert—

(6)Where the original penalty is a penalty under paragraph 3 of Schedule 25 to FA 2021 for a failure to make a return or deliver a document specified in the table in paragraph 1 of that Schedule, the relevant time is, if the tax at stake is income tax or capital gains tax, the beginning of the tax year to which the return or document relates.

Back to top

Options/Help