Regulation 15 Penalties

(1)

Subject to the modifications in paragraph (2), and to paragraph (3), Schedule 24 to the Finance Act 2007^f1 (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.

Annotations

Footnotes

f1: 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).