{
  "url": "https://openlegislation.uk/finance-act-2026/schedule-17/paragraph-34",
  "json_url": "https://openlegislation.uk/finance-act-2026/schedule-17/paragraph-34.json",
  "legislation": "ukpga/2026/11",
  "legislation_title": "Finance Act 2026",
  "legislation_url": "https://openlegislation.uk/finance-act-2026",
  "path": "schedule/17/paragraph/34",
  "kind": "paragraph",
  "number": "34",
  "heading": "Penalties payable in connection with this Schedule",
  "text": "(1) Schedule 41 to FA 2008 (penalties: failure to notify and certain VAT and excise wrongdoing) is amended in accordance with sub-paragraphs (2) and (3).\n(2) In the table in paragraph 1 (failure to notify etc), after the entry related to climate change levy, insert—\n“\nCarbon border adjustment mechanism\nObligation of a person under paragraph 2 of Schedule 17 to FA 2026.\n”\n(3) In paragraph 7, after sub-paragraph (9) insert—\n“(10) In the case of a relevant obligation under paragraph 2 of Schedule 17 to FA 2026 (which relates to the carbon border adjustment mechanism), the potential lost revenue is the amount of the tax (if any) for which P is liable for the period—\n(a) beginning with the end of the period specified in paragraph 2(4) of Schedule 17 of FA 2026, and\n(b) ending with the day on which P registers under paragraph 2 of Schedule 17 to FA 2026 or HMRC otherwise becomes fully aware of P’s obligation to register.”\n(4) No failure to comply with an obligation under paragraph 2 of this Schedule “involves an offshore matter” for the purposes of Schedule 41 to FA 2008 (see paragraph 6A of that Schedule).\n(5) Paragraph 16(1) of Schedule 41 to FA 2008 (penalties: failure to notify etc) has effect in its application to CBAM as if for “shall” there were substituted “may”.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [
    {
      "type": "modified",
      "affecting": "uksi/2026/830",
      "affecting_title": "The Carbon Border Adjustment Mechanism (Transitory Provision) Regulations 2026"
    },
    {
      "type": "modified",
      "affecting": "uksi/2026/830",
      "affecting_title": "The Carbon Border Adjustment Mechanism (Transitory Provision) Regulations 2026"
    },
    {
      "type": "modified",
      "affecting": "uksi/2026/830",
      "affecting_title": "The Carbon Border Adjustment Mechanism (Transitory Provision) Regulations 2026"
    }
  ],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2026/11/schedule/17/paragraph/34",
    "retrieved_at": "2026-10-29T08:42:24.914774+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}