# Finance (No. 2) Act 2017, Paragraph 27


(1) Schedule 21 to FA 2015 (penalties in connection with offshore asset moves) is amended as follows.
(2) In paragraph 2 (original penalties triggering penalties under Schedule 21) omit “and” after paragraph (b) and after paragraph (c) insert
“, and
(d) a penalty under paragraph 1 of Schedule 18 to FA 2017 (requirement to correct relevant offshore tax non-compliance).”
(3) In paragraph 3 (meaning of deliberate failure) after paragraph (c) insert—
“(d) in the case of a penalty within paragraph 2(d), P was aware at any time during the RTC period that at the end of the 2016-17 tax year P had relevant offshore tax non-compliance to correct;
and terms used in paragraph (d) have the same meaning as in Schedule 18 to FA 2017. ”
(4) In paragraph 5 (meaning of “relevant time”) after sub-paragraph (4) insert—
“(5) Where the original penalty is under paragraph 1 of Schedule 18 to FA 2017, the relevant time is the time when that Schedule comes into force.”

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Source: https://www.legislation.gov.uk/ukpga/2017/32/schedule/18/paragraph/27 (the official version)
Page: https://openlegislation.uk/finance-no-2-act-2017/schedule-18/paragraph-27
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.