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Part 2 Liability to a penalty

  1. No penalty if payment in full before end of 15 day period
  2. First penalty: tax remains due at end of 15 day period
  3. Meaning of “15 day time to pay condition” and “30 day time to pay condition”
  4. First penalty: effect of breaking time to pay agreement
  5. Second penalty: tax remains due at end of 30 day period
  6. Second penalty: effect of breaking time to pay agreement
  7. Interpretation of Part 2
  8. Power to amend figures by regulations

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))