5(1)Paragraph 49A (increased daily penalty) is amended as follows.U.K.
(2)In sub-paragraph (1)(c), for “imposed” substitute “ assessable ”.
(3)In sub-paragraph (2), for “imposed” substitute “ assessable ”.
(4)For sub-paragraphs (3) and (4) substitute—
“(3)If the tribunal decides that an increased daily penalty should be assessable—
(a)the tribunal must determine the day from which the increased daily penalty is to apply and the maximum amount of that penalty (“the new maximum amount”), and
(b)from that day, paragraph 40(2) has effect in the person's case as if the new maximum amount were substituted for the amount for the time being specified there.
(4)The new maximum amount may not be more than £1,000.”
(5)In sub-paragraph (5), in the opening words, for “the amount” substitute “ the new maximum amount ”.
(6)In sub-paragraph (6), at the end insert “ but as if the reference in paragraph 41(2)(a) to this Act were to FA 2021 ”.