Paragraph 37 Penalties payable in connection with this Schedule

United Kingdom

In Schedule 26 to FA 2021 (penalties for failure to pay tax), in paragraph 1(1), after the table relating to value added tax insert—

“
Carbon border adjustment mechanism
1 Amount of CBAM payable under paragraph 6 of Schedule 17 to FA 2026 (except an amount within item 2, 3 or 4) The date determined by paragraph 6 of Schedule 17 to FA 2026 as the date by which the amount must be paid
2 Amount of CBAM shown in an assessment made by HMRC in default of a return (see paragraph 3) The date by which the amount would have been required to be paid if it had been shown in the return in question
3 Amount of CBAM shown in an amendment of a return The date falling 30 days after the date on which the amendment is made
4 Amount of CBAM shown in an assessment made by HMRC otherwise than in default of a return (see paragraph 3) The date falling 30 days after the date on which the assessment is made
”.

Carbon border adjustment mechanism
1	Amount of CBAM payable under paragraph 6 of Schedule 17 to FA 2026 (except an amount within item 2, 3 or 4)	The date determined by paragraph 6 of Schedule 17 to FA 2026 as the date by which the amount must be paid
2	Amount of CBAM shown in an assessment made by HMRC in default of a return (see paragraph 3)	The date by which the amount would have been required to be paid if it had been shown in the return in question
3	Amount of CBAM shown in an amendment of a return	The date falling 30 days after the date on which the amendment is made
4	Amount of CBAM shown in an assessment made by HMRC otherwise than in default of a return (see paragraph 3)	The date falling 30 days after the date on which the assessment is made