Paragraph 17A F1
This paragraph applies where HMRC has assessed a penalty for which a person is liable under this Schedule in respect of a failure to pay the tax due.
HMRC may withdraw the assessment by notice to the person.
The withdrawn assessment ceases to have effect (and is to be taken as never having had any effect).
But the withdrawal of the assessment does not prevent HMRC from subsequently assessing a penalty for the failure mentioned in sub-paragraph (1).
Annotations
Textual amendments
- F1
Sch. 26 para. 17A inserted (1.4.2026 for the purposes for which Sch. 26 is in force immediately before that date and for all other purposes at the same time as Sch. 26 comes into force for those purposes) by Finance Act 2026 (c. 11), s. 263(3)(6)(7)
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))