Paragraph 29 F1

F2submits or is required to submit an interest restriction return under paragraph 7 F3, or a revised interest restriction return under paragraph 8(4), for a period of account of a worldwide group, and

fails to do so by the filing date in relation to the period F4....

in relation to an interest restriction return under paragraph 7, a reference to the filing date for the purposes of that paragraph (see paragraph 7(5) and (5A));

in relation to a revised interest restriction return under paragraph 8(4), a reference to the end of the period within which the return may have effect (see paragraph 8(5)).

£500 if the return is delivered within 3 months after the filing date, and

£1,000 in any other case.

assess the penalty, and

notify the company.

within the period of 12 months beginning with the day on which the return was received by an officer of Revenue and Customs, or

if no return is received by an officer of Revenue and Customs, the period of 12 months beginning with the filing date mentioned in sub-paragraph (1)(b).

within 30 days after the penalty was notified to the company,

to the officer of Revenue and Customs who notified the company.

the day on which the company was notified of the penalty, or

if notice of appeal against the penalty is given, the day on which the appeal is finally determined or withdrawn.