# Finance Act 2021, Paragraph 16A


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(3) The withdrawn assessment ceases to have effect (and is to be taken as never having had any effect).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

---
Source: https://www.legislation.gov.uk/ukpga/2021/26/schedule/24/paragraph/16A (the official version)
Page: https://openlegislation.uk/finance-act-2021/schedule-24/paragraph-16A
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.