Paragraph 35 I1

F1(1)

The Treasury may by regulations amend any of paragraphs 22(1), 23, 23A(4), 25A(1), 26(2) and (3), 26B(2) and 28(1) so as to increase or decrease the amount of a penalty for the time being specified in those paragraphs to reflect a change in the value of money.

F2(2)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(3)

Regulations under this paragraph do not apply to a failure or conduct that began before the day on which they come into force.

(4)

The power to make regulations under this paragraph is exercisable by statutory instrument.

(5)

A statutory instrument containing regulations under this paragraph is subject to annulment in pursuance of a resolution of the House of Commons.

Annotations

Textual amendments

F1: Sch. 38 para. 35(1) substituted (1.4.2026) by Finance Act 2026 (c. 11), s. 250(2), Sch. 22 para. 24(a)
F2: Sch. 38 para. 35(2) omitted (1.4.2026) by virtue of Finance Act 2026 (c. 11), s. 250(2), Sch. 22 para. 24(b)

Commencement

I1: Sch. 38 para. 35 in force at 1.4.2013 by S.I. 2013/279, art. 2

Notes on Schedule 38

Textual amendments

F1: Sch. 38 heading substituted (1.4.2026) by Finance Act 2026 (c. 11), s. 250(2), Sch. 22 para. 2

Modifications

C1: Sch. 38 applied by S.I. 2009/470, reg. 33(1) (as substituted (6.4.2013) by The Education (Student Loans) (Repayment) (Amendment) Regulations 2013 (S.I. 2013/607), regs. 1(1), 9)
C2: Sch. 38 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(2)
C3: Sch. 38 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), 43(1)
C4: Sch. 38 applied (with application in accordance with reg. 1(2) of the amending S.I.) by The Social Security (Contributions) (Amendment and Application of Schedule 38 to the Finance Act 2012) Regulations 2013 (S.I. 2013/622), regs. 1, 41 (as amended (1.4.2026) by Finance Act 2026 (c. 11), s. 250(2), Sch. 22 para. 35)