Penalties15

1

Subject to the modifications in paragraph (2), and to paragraph (3), Schedule 24 to the Finance Act 200718 (penalties for errors) applies in connection with a top-up claim as it applies to income tax for the purposes of—

a

liability for penalties;

b

the calculation and assessment of penalties; and

c

appeals against the assessment of penalties.

2

The modifications are—

a

in paragraphs 1(1) and 1A(1), the reference to a document of a kind listed in the Table includes a reference to a document containing a top-up claim;

b

in paragraphs 1(2) and 1A(2), the reference to a false or inflated claim to repayment of tax is to be treated as a reference to a false or inflated top-up claim;

c

in paragraph 5(1), the reference to an additional amount due or payable in respect of tax is to be treated as a reference to an amount of overpayment due or payable;

d

in paragraph 18, a reference to tax is to be treated as a reference to a top-up claim.

3

In applying Schedule 24 to the Finance Act 2007 for the purposes of this regulation, omit—

a

paragraph 2 and references to that paragraph or to the failure to notify or disclose an under-assessment in paragraphs 5, 9, 11, 13, 18 and 21;

b

paragraph 4(3) to (5);

c

paragraph 4A(1)(b) and the “or” immediately preceding it, (2), (3) and (7);

d

paragraph 4C;

e

paragraph 5(2) to (4);

f

paragraphs 6 to 8;

g

paragraph 12;

h

paragraph 13(4) and (7);

i

paragraphs 19 and 20;

j

paragraphs 21A and 21B;

k

paragraphs 24 to 27;

l

paragraphs 29 to 31.