{
  "url": "https://openlegislation.uk/finance-act-2026/schedule-17/paragraph-40",
  "json_url": "https://openlegislation.uk/finance-act-2026/schedule-17/paragraph-40.json",
  "legislation": "ukpga/2026/11",
  "legislation_title": "Finance Act 2026",
  "legislation_url": "https://openlegislation.uk/finance-act-2026",
  "path": "schedule/17/paragraph/40",
  "kind": "paragraph",
  "number": "40",
  "heading": "Penalties payable in connection with this Schedule",
  "text": "(1) But a penalty is not payable under paragraph 38 or 39 if—\n(a) P satisfies an officer of Revenue and Customs or, on appeal, the tribunal that there is a reasonable excuse for the failure, or\n(b) the penalty would subject P to double jeopardy.\n(2) For the purpose of sub-paragraph (1)(a)—\n(a) an insufficiency of funds is not a reasonable excuse,\n(b) where P relies on any other person to do anything, that is not a reasonable excuse unless P took reasonable care to avoid the failure, and\n(c) where P had a reasonable excuse for the failure but the excuse has ceased, P is to be treated as having continued to have the excuse only if the failure is remedied without unreasonable delay after the excuse ceased.\n(3) For the purpose of sub-paragraph (1)(b), the penalty would subject P to double jeopardy if, by reason of the conduct constituting the failure, P has been—\n(a) convicted of an offence, or\n(b) assessed to a penalty other than under paragraph 38 or 39.",
  "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/40",
    "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."
}