Paragraph 17 I1I2I3I4I5
A supplementary assessment may be made in respect of a penalty if an earlier assessment is based on an amount of tax due and payable that is found by HMRC to be an underestimate or insufficient.
If an assessment in respect of a penalty is based on an amount of tax due or payable that is found by HMRC to be excessive, HMRC may by notice amend the assessment so that it is based upon the correct amount.
An amendment under sub-paragraph (2)—
does not affect when the penalty must be paid;
may be made after the last day on which the assessment in question could have been made under paragraph 18.
Annotations
Commencement
- I1
Sch. 26 para. 17 in force at 1.1.2023 for specified purposes by S.I. 2022/1278, reg. 2(2)
- I2
Sch. 26 para. 17 in force at 6.4.2024 for specified purposes by S.I. 2024/440, reg. 2(2)
- I3
Sch. 26 para. 17 in force at 12.11.2024 for specified purposes by S.I. 2024/1132, reg. 2
- I4
Sch. 26 para. 17 in force at 28.3.2025 for specified purposes by S.I. 2025/399, reg. 2
- I5
Sch. 26 para. 17 in force at 1.4.2026 for specified purposes by S.I. 2026/370, reg. 3(2)
Notes on Schedule 26
Modifications
- C1
Sch. 26 modified (1.3.2024) by 1994 c. 23, Sch. 9ZF para. 13A (as inserted by The Value Added Tax (Distance Selling) (Amendments) Regulations 2024 (S.I. 2024/128), regs. 1(1), 6(6) (with reg. 1(2)))
- C2
Sch. 26 applied (1.4.2026) by S.I. 2009/470, reg. 36(2) (as inserted by The Education (Student Fees, Awards, Support and Loan Repayments) (Amendment) Regulations 2026 (S.I. 2026/130), regs. 1(4), 34(b))