Paragraph 18 I1I2I3I4I5
An assessment of a penalty under this Schedule in respect of any amount must be made on or before the later of date A and (where it applies) date B.
Date A is the last day of the period of 2 years beginning with the date specified in or for the purposes of column 3 of the relevant table in paragraph 1 F1....
Date B is the last day of the period of 12 months beginning with—
the end of the appeal period for the assessment of the amount of tax in respect of which the penalty is assessed, or
if there is no such assessment, the date on which that amount of tax is ascertained.
In sub-paragraph (3)(a) “appeal period” means the period during which—
an appeal could be brought (ignoring any possibility of an appeal out of time), or
an appeal that has been brought has not been determined or withdrawn.
Annotations
Textual amendments
- F1
Words in Sch. 26 para. 18(2) omitted (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 virtue of Finance Act 2026 (c. 11), s. 263(4)(6)(7)
Commencement
- I1
Sch. 26 para. 18 in force at 1.1.2023 for specified purposes by S.I. 2022/1278, reg. 2(2)
- I2
Sch. 26 para. 18 in force at 6.4.2024 for specified purposes by S.I. 2024/440, reg. 2(2)
- I3
Sch. 26 para. 18 in force at 12.11.2024 for specified purposes by S.I. 2024/1132, reg. 2
- I4
Sch. 26 para. 18 in force at 28.3.2025 for specified purposes by S.I. 2025/399, reg. 2
- I5
Sch. 26 para. 18 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))