Regulation 4 Amendments relating to late payment penaltiesI1

the existing text becomes paragraph (1);

after paragraph (1), insert—

“(2)

Schedule 26 to the  Finance Act 2021 (penalties for failure to pay tax)( 17) applies to repayments which have become payable by a borrower under this Part as it applies to an amount of income tax which falls within item 1, 2, 3, 4, 8, 9 or 10 of the table headed “Income tax or capital gains tax” in  paragraph 1 (1) of  that Schedule.”.