Penalties
15.—(1) Subject to the modifications in paragraph (2), and to paragraph (3), Schedule 24 to the Finance Act 2007(1) (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.
2007 c. 11; relevant amendments to Schedule 24 were made by Schedule 40 to the Finance Act 2008 (c. 9), Part 1 of Schedule 57 to the Finance Act 2009, S.I. 2009/56, paragraph 575 of Schedule 1 to the Corporation Tax Act 2010 (c. 4), paragraphs 1 to 6 of Schedule 10 to the Finance Act 2010 (c. 13) and section 219 of the Finance Act 2012 (c. 14).