Paragraph 13 I1 I2

(1)

A supplementary assessment may be made in respect of a penalty under this Schedule if an earlier assessment—

(a)

is based on a liability to tax that would have been shown in a return, and that liability is found by HMRC to be an underestimate, or

(b)

is based on a liability to tax that is found by HMRC to be insufficient.

(2)

Sub-paragraph (3) applies if an assessment in respect of a penalty—

(a)

is based on a liability to tax that would have been shown in a return, and that liability is found by HMRC to be an overestimate, or

(b)

is based on a liability to tax that is found by HMRC to be excessive.

(3)

HMRC may by notice to the person amend the assessment so that it is based upon the correct amount.

(4)

An amendment under sub-paragraph (3)—

(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 14.

Annotations

I1: Sch. 25 para. 13 in force at 6.4.2024 for specified purposes by S.I. 2024/440, reg. 2(1)
I2: Sch. 25 para. 13 in force at 1.4.2026 for specified purposes by S.I. 2026/370, reg. 3(1)

C1: Sch. 25 applied (with modifications) (1.4.2026) by S.I. 2009/470, reg. 40(5)(6) (as inserted by The Education (Student Fees, Awards, Support and Loan Repayments) (Amendment) Regulations 2026 (S.I. 2026/130), regs. 1(4), 35(b))