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Paragraph 16A F1

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

(1)

This paragraph applies where HMRC have assessed a penalty for which a person is liable under this Schedule in respect of a failure (or failures) to make a return.

(2)

HMRC may withdraw the assessment by notice to the person.

(3)

The withdrawn assessment ceases to have effect (and is to be taken as never having had any effect).

(4)

But the withdrawal of the assessment does not prevent HMRC from subsequently assessing a penalty for the failure (or failures) mentioned in sub-paragraph (1).

Annotations

Textual amendments

F1

Sch. 24 para. 16A and cross-heading inserted (1.4.2026 for the purposes for which the amended provision is in force immediately before that date and for all other purposes at the same time as the amended provision comes into force for those purposes and with effect in accordance with s. 262(8)(c) of the amending Act) by Finance Act 2026 (c. 11), s. 262(5)