# Finance Act 2021, Paragraph 7


(1) Where an assessment is made under paragraph 2 or 3 to an amount of a penalty to which any person is liable, the notification of that amount must specify a time, not later than the end of the day of the giving of the notification, to which the amount of any daily penalty is calculated.
(2) For the purposes of sub-paragraph (1) “daily penalty” means a penalty imposed under section 80(1)(b).
(3) If further penalties accrue in respect of a continuing failure after that date, a further assessment or further assessments may be made under paragraph 2 or 3 in respect of the amounts so accruing.

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Source: https://www.legislation.gov.uk/ukpga/2021/26/schedule/14/paragraph/7 (the official version)
Page: https://openlegislation.uk/finance-act-2021/schedule-14/paragraph-7
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.