# Finance Act 2012, Paragraph 29


(1) If a person becomes liable to a penalty under Part 3 or 4 of this Schedule, HMRC may assess the penalty.
(2) But, in the case of a penalty under Part 4, they may only do so if a conduct notice has been given to the person and not withdrawn.
(3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(4) If HMRC assess a penalty, they must notify the person.

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Source: https://www.legislation.gov.uk/ukpga/2012/14/schedule/38/paragraph/29 (the official version)
Page: https://openlegislation.uk/finance-act-2012/schedule-38/paragraph-29
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.