# Finance Act 2013, Paragraph 7


In paragraph 18 (assessment), for sub-paragraph (5) substitute—
“(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.”

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Source: https://www.legislation.gov.uk/ukpga/2013/29/schedule/50/paragraph/7 (the official version)
Page: https://openlegislation.uk/finance-act-2013/schedule-50/paragraph-7
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.