Paragraph 14 I1

United Kingdom

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

Sch. 24 para. 4(2)(c) word substituted by Finance Act 2015 Sch. 20 para. 2(3)(c)
Sch. 24 para. 21A(2) substituted by Finance Act 2015 Sch. 20 para. 7(3)
Sch. 24 para. 21A(7) substituted by Finance Act 2015 Sch. 20 para. 7(4)
Sch. 24 para. 21A(A1) inserted by Finance Act 2015 Sch. 20 para. 7(2)
Sch. 24 para. 4(1A) inserted by Finance Act 2015 Sch. 20 para. 2(2)
Sch. 24 para. 4(2)(a) word substituted by Finance Act 2015 Sch. 20 para. 2(3)(a)
Sch. 24 para. 4(2)(b) word substituted by Finance Act 2015 Sch. 20 para. 2(3)(b)
Sch. 24 para. 4(5) word substituted by Finance Act 2015 Sch. 20 para. 2(4)
Sch. 24 para. 4A(7) words substituted by Finance Act 2015 Sch. 20 para. 3(8)
Sch. 24 para. 4A(A1)(1) substituted for Sch. 24 para. 4A(1) by Finance Act 2015 Sch. 20 para. 3(2)
Sch. 24 para. 10(2) words inserted by Finance Act 2015 Sch. 20 para. 5
Sch. 24 para. 12(5)(a) word substituted by Finance Act 2015 Sch. 20 para. 6(b)
Sch. 24 para. 12(5)(za) inserted by Finance Act 2015 Sch. 20 para. 6(a)
Sch. 24 para. 28(fa)(iv)-(ivb) omitted by Finance Act 2024 Sch. 2 para. 11

(1)

HMRC may suspend all or part of a penalty for a careless inaccuracy under paragraph 1 by notice in writing to P.

(2)

A notice must specify—

(a)

what part of the penalty is to be suspended,

(b)

a period of suspension not exceeding two years, and

(c)

conditions of suspension to be complied with by P.

(3)

HMRC may suspend all or part of a penalty only if compliance with a condition of suspension would help P to avoid becoming liable to further penalties under paragraph 1 for careless inaccuracy.

(4)

A condition of suspension may specify—

(a)

action to be taken, and

(b)

a period within which it must be taken.

(5)

On the expiry of the period of suspension—

(a)

if P satisfies HMRC that the conditions of suspension have been complied with, the suspended penalty or part is cancelled, and

(b)

otherwise, the suspended penalty or part becomes payable.

(6)

If, during the period of suspension of all or part of a penalty under paragraph 1, P becomes liable for another penalty under that paragraph, the suspended penalty or part becomes payable.

Annotations

Commencement

I1: Sch. 24 para. 14 in force at 1.4.2008 for certain purposes, 1.7.2008 for certain purposes, 1.1.2009 for certain purposes, and 1.4.2009 in so far as not already in force by S.I. 2008/568, art. 2 (with art. 3)

Notes on Schedule 24

Modifications

C1: Sch. 24 applied (N.I.) (1.4.2008) by The Education (Student Loans) (Repayment) Regulations (Northern Ireland) 2000 (S.R. 2000/121), regs. 7(2A)(b), 26(4) (as amended by S.R. 2008/129, regs. 1, 3(a), 4)
C2: Sch. 24 applied (6.4.2008) by The Social Security (Contributions) Regulations 2001 (S.I. 2001/1004), reg. 81(1)(1A), Sch. 4 paras. 21A(8), 21D(9), 21F(12), 22(7), 31(8) (as amended by S.I. 2008/636, reg. 7; S.I. 2010/721, reg. 4; S.I. 2012/821, reg. 11)
C3: Sch. 24 applied (E.W.) (6.4.2009) by The Education (Student Loans) (Repayment) Regulations 2009 (S.I. 2009/470), regs. 1(1), 13(3)(b), 40(4), 59(8)(b) (with reg. 1(4)(6))
C4: Sch. 24 applied (N.I.) (6.4.2009) by The Education (Student Loans) (Repayment) Regulations (Northern Ireland) 2009 (S.R. 2009/128), regs. 1(1), 9(3)(b), 35(4), 54(8)(b)
C5: Sch. 24 modified (8.4.2010) by Finance Act 2010 (c. 13), Sch. 1 para. 37
C6: Sch. 24 applied (with modifications) (19.4.2013) by The Small Charitable Donations Regulations 2013 (S.I. 2013/938), regs. 1, 15
C7: Sch. 24 excluded (17.7.2014) by Finance Act 2014 (c. 26), Sch. 35 para. 13(a)
C8: Sch. 24 applied by 1993 c. 34, Sch. 20A para. 9A(6) (as inserted (19.12.2014) by The Lloyd's Underwriters (Conversion of Partnerships to Underwriting through Successor Companies) (Tax) Regulations 2014 (S.I. 2014/3133), regs. 1, 5(4))
C9: Sch. 24 applied (with modifications) by 1992 c. 4, s. 11A(1)(3) (as inserted (with effect in accordance with Sch. 1 para. 35 of the amending Act) by National Insurance Contributions Act 2015 (c. 5), Sch. 1 para. 3)
C10: Sch. 24 applied (with modifications) by 1992 c.7 (N.I.) s. 11A(1)(3) (as inserted (with effect in accordance with Sch. 1 para. 35 of the amending Act) by National Insurance Contributions Act 2015 (c. 5), Sch. 1 para. 12)
C11: Sch. 24 applied (with application in accordance with reg. 1 of the amending S.I.) by The Education (Postgraduate Masters Degree Loans) Regulations 2016 (S.I. 2016/606), regs. 1(1), 85(4)
C12: Sch. 24 applied (with application in accordance with reg. 1 of the amending S.I.) by The Education (Postgraduate Masters Degree Loans) Regulations 2016 (S.I. 2016/606), regs. 1(1), 50(3)
C13: Sch. 24 applied (with application in accordance with reg. 1 of the amending S.I.) by The Education (Postgraduate Masters Degree Loans) Regulations 2016 (S.I. 2016/606), regs. 1(1), 24(3)
C14: Sch. 24 applied (with modifications) (1.5.2023) by The Value Added Tax (Margin Schemes and Removal or Export of Goods: VAT-related Payments) Order 2023 (S.I. 2023/68), arts. 1(1), 14 (with art. 1(2))
C15: Sch. 24 applied (14.9.2023) by The Public Service Pension Schemes (Rectification of Unlawful Discrimination) (Tax) (No. 2) Regulations 2023 (S.I. 2023/912), regs. 1(2), 40(2) (with reg. 1(3))
C16: Sch. 24 applied (24.4.2025 for the tax year 2023-24 and subsequent tax years) by The Public Service Pension Schemes (Rectification of Unlawful Discrimination) (Tax) Regulations 2025 (S.I. 2025/419), regs. 1(2)(3), 15(3)