# The Finance Act 2010, Schedule 10 (Appointed Days and Transitional Provisions) Order 2011, Note: Explanatory note


(This note is not part of the Order)
This Order appoints 6th April 2011 as the day on which Schedule 10 to the Finance Act 2010 (c. 13) comes into force. Schedule 10 increases the level of penalties that may be charged in cases where certain offshore income, gains or assets have not been declared to HM Revenue and Customs (“HMRC”).
Schedule 10 achieves this by amending Schedule 24 to the Finance Act 2007 (c. 11) (documents submitted to HMRC which contain inaccuracies that lead to a loss of tax), Schedule 41 to the Finance Act 2008 (c. 9) (penalties for failure to notify chargeability) and Schedule 55 to the Finance Act 2009 (c. 10) (the late filing of returns).
Article 3 makes transitional provision ensuring that Schedule 24 to the Finance Act 2007 is not amended in relation to documents and assessments that relate to a tax period commencing on or before 5th April 2011.
Article 4 makes transitional provision ensuring that Schedule 41 to the Finance Act 2008 is not amended in relation to various ‘trigger events’ occurring on or before 5th April 2011 or in relation to obligations which arise in relation to a tax period that commenced on or before 5th April 2011.
Article 5 makes transitional provision ensuring that Schedule 55 to the Finance Act 2009 is not amended in relation to a return or other document required to be made or delivered to HMRC in relation to the tax year 2010-11 or any previous tax year.
In line with Government commitments, a Tax Information and Impact Note has not been prepared for this instrument as it gives effect to previously announced policy and is an appointed day order.

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Source: https://www.legislation.gov.uk/uksi/2011/975/note (the official version)
Page: https://openlegislation.uk/finance-act-2010-schedule-10-appointed-days-and-transitional-provisions-order-2011/note
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.