Paragraph 7 F1

(1)

Sub-paragraph (2) applies where a person—

(a)

is notified under section 210(7) of a consequential adjustment relating to a counteraction under section 209, and

(b)

an assessment to a penalty in respect of that counteraction of which the person has been notified under paragraph 5(2) does not take account of that consequential adjustment.

(2)

HMRC must make any alterations of the assessment that appear to HMRC to be just and reasonable in connection with the consequential amendment.

(3)

Alterations under this paragraph may be made despite any time limit imposed by or under an enactment.

Annotations

Textual amendments

F1: Sch. 43C inserted (15.9.2016) (with effect in accordance with s. 158(15) of the amending Act) by Finance Act 2016 (c. 24), s. 158(3)

Notes on Schedule 43C

Textual amendments

F2: Words in Sch. 43C heading inserted (with effect in accordance with s. 124(2) of the amending Act) by Finance Act 2021 (c. 26), Sch. 32 para. 13(2)