Paragraph 7

(1)

Paragraph 3 of Schedule 53 to FA 2009 (late payment interest start date: amendments and discovery assessments etc) is amended as follows.

(2)

In sub-paragraph (3)—

(a)

for “as required” substitute “ in accordance with a requirement ”, and

(b)

after “tax)” insert “ that arose by virtue of subsection (1A) of that section ”.

(3)

After that sub-paragraph insert—

“(3A)
In the case of a person (“P”) who failed to give notice in accordance with a requirement under section 7 of TMA 1970 that arose by virtue of subsection (1B) of that section, the reference in sub-paragraph (1)(c) to an assessment which ought to have been made by P is a reference to the assessment which P would have been required to make if no notice relating to the year of assessment concerned had been withdrawn under section 8B of that Act.”