EXPLANATORY NOTE
(This note is not part of the Order)
This Order appoints 6 October 2011 as the day on which two changes to the Scheme enter force.
First, penalties for failure to comply will arise under the Finance Act 2009, Schedule 55 instead of as provided for by S.I. 2005/20458.
Second, late payment of that penalty (or late repayment by HMRC) will carry interest under the Finance Act 2009, sections 101 to 1039.
A full Impact Assessment of the effect that this instrument will have on the costs of business and the voluntary sector is available from the HMRC website at http://www.hmrc.gov.uk/better-regulation/ia.htm.