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Paragraph 18 I1I2I3C1I4I5I6C2C3I7

United Kingdom

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

C4C5(1)

Where P is liable for a penalty under any paragraph of this Schedule HMRC must—

(a)

assess the penalty,

(b)

notify P, and

(c)

state in the notice the period in respect of which the penalty is assessed.

(2)

A penalty under any paragraph of this Schedule must be paid before the end of the period of 30 days beginning with the day on which notification of the penalty is issued.

(3)

An assessment of a penalty under any paragraph of this Schedule—

(a)

is to be treated for procedural purposes in the same way as an assessment to tax (except in respect of a matter expressly provided for by this Schedule),

(b)

may be enforced as if it were an assessment to tax, and

(c)

may be combined with an assessment to tax.

(4)

A supplementary assessment may be made in respect of a penalty if an earlier assessment operated by reference to an underestimate of the liability to tax which would have been shown in a return.

F1(5)

Sub-paragraph (6) applies if—

(a)

an assessment in respect of a penalty is based on a liability to tax that would have been shown in a return, and

(b)

that liability is found by HMRC to be excessive.

(6)

HMRC may by notice to P amend the assessment so that it is based upon the correct amount.

(7)

An amendment under sub-paragraph (6)—

(a)

does not affect when the penalty must be paid;

(b)

may be made after the last day on which the assessment in question could have been made under paragraph 19.

Annotations

Textual amendments

F1

Sch. 55 para. 18(5)-(7) substituted (with effect in accordance with Sch. 50 para. 16(2) of the amending Act) for Sch. 55 para. 18(5) by Finance Act 2013 (c. 29), Sch. 50 para. 7

Modifications

C1

Sch. 55 applied (with modifications) by S.I. 2001/1004, Sch. 4 para. 21G (as inserted (with effect in accordance with reg. 1(3) of the amending S.I.) by The Social Security (Contributions) (Amendment No. 4) Regulations 2014 (S.I. 2014/2397), regs. 1(1), 3(5))

C2

Sch. 55 paras. 18-23 applied (with modifications) (24.2.2022) by Finance Act 2022 (c. 3), Sch. 2 para. 24(6)

C3

Sch. 55 modified (temp.) (with effect in accordance with Sch. 10 para. 43 of the amending Act) by Finance Act 2022 (c. 3), Sch. 10 para. 26 (as amended (5.1.2023) by S.I. 2022/1321, regs. 1, 2(2)

C4

Sch. 55 para. 18(1) modified (10.12.2021 for specified purposes, 1.4.2022 in so far as not already in force and with effect in accordance with s. 85(1)(b) of the amending Act) by Finance Act 2021 (c. 26), s. 85(1)(a), Sch. 15 para. 8(2)(a); S.I. 2021/1409, regs. 3, 4

C5

Sch. 55 para. 18(1)-(4) applied (6.4.2022) by The Pension (Non-Taxable Payments Following Death) (Real Time Information) Regulations 2021 (S.I. 2021/506), regs. 1, 7(3)

Commencement

I1

Sch. 55 para. 18 in force at 1.4.2011 for specified purposes and 6.4.2011 for specified purposes by S.I. 2011/702, art. 2 (with art. 1(2))

I2

Sch. 55 para. 18 in force at 6.10.2011 for specified purposes by S.I. 2011/2391, art. 2(b) (with art. 3(1)(2))

I3

Sch. 55 para. 18 in force at 17.7.2013 for specified purposes by 2013 c. 29, Sch. 34 para. 7(2)

Sch. 55 para. 18 in force at 6.10.2014 for specified purposes and 6.3.2015 for specified purposes by S.I. 2014/2395, art. 2(1)(b)

I4

Sch. 55 para. 18 in force at 1.1.2015 for specified purposes by S.I. 2014/3269, art. 2

I5

Sch. 55 para. 18 in force at 6.4.2018 for specified purposes by S.I. 2018/468, art. 2(b)

I6

Sch. 55 para. 18 in force at 12.2.2019 for specified purposes by 2019 c. 1, Sch. 2 para. 29(3)

I7

Sch. 55 para. 18 in force at 1.4.2022 for specified purposes by S.I. 2021/1409, reg. 2(b)

Notes on Schedule 55

Modifications

C1

Sch. 55 modified (8.4.2010) by Finance Act 2010 (c. 13), Sch. 1 para. 38

C2

Sch. 55 applied by S.R. 2009/128, reg. 35 (as substituted (6.4.2011) by The Education (Student Loans) (Repayment) (Amendment) Regulations (Northern Ireland) 2011 (S.R. 2011/137), regs. 1(1), 8(a) (with reg. 12))

C3

Sch. 55 applied by S.I. 2009/470, reg. 40(1)(2) (as substituted (6.4.2011) by The Education (Student Loans) (Repayment) (Amendment) Regulations 2011 (S.I. 2011/784), regs. 1(1), 9 (with reg. 12(2)))

C5

Sch. 55 applied (with modifications) by 1992 c. 4, s. 11A (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)

C6

Sch. 55 applied (with modifications) by 1992 c. 7, s. 11A (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)

C7

Sch. 55 applied (with modifications) (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(1)(2)

C9

Sch. 55 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), 42(3) (with reg. 1(3))

C10

Sch. 55 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(2)