# Finance Act 2021, Paragraph 13


(1) Schedule 43C (penalty under section 212A: supplementary provision) is amended as follows.
(2) In the heading after “212A” insert “ or 212B ”.
(3) In paragraph 1, for “section 212A” substitute “ sections 212A and 212B ”
(4) In paragraph 2—
(a) for sub-paragraph (1), substitute—
“(1) The “value of the counteracted tax advantage” is—
(a) for a penalty under section 212A, the additional amount due or payable in respect of tax as a result of the counteraction mentioned in subsection (1)(d) of that section, and
(b) for a penalty under section 212B, the additional amount due or payable in respect of tax (by the partner in question) as a result of the counteraction mentioned in subsection (1)(b) of that section.”,
(b) for “section 212A(1)(c)” substitute “ section 212A(1)(d) or as result of the counteraction mentioned in 212B(1)(b) (as the case may be) ”, and
(c) in sub-paragraph (5), for “the”, in the second place it occurs, substitute “ a ”.
(5) In paragraph 3(1) omit “mentioned in section 212A(1)(b) (“the tax advantage”)”.
(6) In paragraph 4(1), after “212A” insert “ or 212B (as the case may be) ”.
(7) In paragraph 5—
(a) in sub-paragraph (1), after “212A” insert “ or 212B (as the case may be) ”, and
(b) in sub-paragraph (2), for paragraph (a) substitute—
“(a) notify—
(i) where the penalty is under section 212A, the person who is liable for it;
(ii) where the penalty is under section 212B, the person who is liable for it and the responsible partner.”, and
(c) in sub-paragraph (5), after “section 212A(1)(d)” insert “ or section 212B(1)(b) (as the case may be) ”.
(8) In paragraph 8—
(a) in sub-paragraph (1)(b), after “212A” insert “ or 212B (as the case may be) ”, and
(b) in sub-paragraph (4), after “212A” insert “ or 212B ”.
(9) In paragraph 9—
(a) in sub-paragraph (1)(a), after “212A” insert “ or 212B ”, and
(b) after sub-paragraph (1) insert—
“(1A) Where the penalty is under section 212B, an appeal against it must be brought by the responsible partner.”
(10) In paragraph 10(1), after section 212A insert “ or 212B ”.

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Source: https://www.legislation.gov.uk/ukpga/2021/26/schedule/32/paragraph/13 (the official version)
Page: https://openlegislation.uk/finance-act-2021/schedule-32/paragraph-13
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.