SCHEDULES
C1C5C3C2C4C6C7C8C9C10C13C12C11C14C15SCHEDULE 24Penalties for errors
Sch. 24 applied (6.4.2008) by The Social Security (Contributions) Regulations 2001 (S.I. 2001/1004), reg. 81(1)(1A), Sch. 4 paras. 21A(8), 21D(9), 21F(12), 22(7), 31(8) (as amended by S.I. 2008/636, reg. 7; S.I. 2010/721, reg. 4; S.I. 2012/821, reg. 11)
Sch. 24 applied (E.W.) (6.4.2009) by The Education (Student Loans) (Repayment) Regulations 2009 (S.I. 2009/470), regs. 1(1), 13(3)(b), 40(4), 59(8)(b) (with reg. 1(4)(6))
Sch. 24 applied (N.I.) (6.4.2009) by The Education (Student Loans) (Repayment) Regulations (Northern Ireland) 2009 (S.R. 2009/128), regs. 1(1), 9(3)(b), 35(4), 54(8)(b)
Sch. 24 modified (8.4.2010) by Finance Act 2010 (c. 13), Sch. 1 para. 37
Sch. 24 applied (with modifications) (19.4.2013) by The Small Charitable Donations Regulations 2013 (S.I. 2013/938), regs. 1, 15
Sch. 24 excluded (17.7.2014) by Finance Act 2014 (c. 26), Sch. 35 para. 13(a)
Sch. 24 applied by 1993 c. 34, Sch. 20A para. 9A(6) (as inserted (19.12.2014) by The Lloyd's Underwriters (Conversion of Partnerships to Underwriting through Successor Companies) (Tax) Regulations 2014 (S.I. 2014/3133), regs. 1, 5(4))
Sch. 24 applied (with modifications) by 1992 c. 4, s. 11A(1)(3) (as inserted (with effect in accordance with Sch. 1 para. 35 of the amending Act) by National Insurance Contributions Act 2015 (c. 5), Sch. 1 para. 3)
Sch. 24 applied (with modifications) by 1992 c.7 (N.I.) s. 11A(1)(3) (as inserted (with effect in accordance with Sch. 1 para. 35 of the amending Act) by National Insurance Contributions Act 2015 (c. 5), Sch. 1 para. 12)
Sch. 24 applied (with application in accordance with reg. 1 of the amending S.I.) by The Education (Postgraduate Masters Degree Loans) Regulations 2016 (S.I. 2016/606), regs. 1(1), 85(4)
Sch. 24 applied (with application in accordance with reg. 1 of the amending S.I.) by The Education (Postgraduate Masters Degree Loans) Regulations 2016 (S.I. 2016/606), regs. 1(1), 50(3)
Sch. 24 applied (with application in accordance with reg. 1 of the amending S.I.) by The Education (Postgraduate Masters Degree Loans) Regulations 2016 (S.I. 2016/606), regs. 1(1), 24(3)
Sch. 24 applied (with modifications) (1.5.2023) by The Value Added Tax (Margin Schemes and Removal or Export of Goods: VAT-related Payments) Order 2023 (S.I. 2023/68), arts. 1(1), 14 (with art. 1(2))
Sch. 24 applied (14.9.2023) by The Public Service Pension Schemes (Rectification of Unlawful Discrimination) (Tax) (No. 2) Regulations 2023 (S.I. 2023/912), regs. 1(2), 40(2) (with reg. 1(3))
Part 5General
F14Classification of territories
Sch. 24 paras. 21A, 21B and cross-headings inserted (6.4.2011) by Finance Act 2010 (c. 13), s. 35(2), Sch. 10 para. 5; S.I. 2011/975, art. 2(1) (with art. 3)
C1621A
1
A category 1 territory is a territory designated as a category 1 territory by order made by the Treasury.
2
A category 2 territory is a territory that is neither—
a
a category 1 territory, nor
b
a category 3 territory.
3
A category 3 territory is a territory designated as a category 3 territory by order made by the Treasury.
4
In considering how to classify a territory for the purposes of this paragraph, the Treasury must have regard to—
a
the existence of any arrangements between the UK and that territory for the exchange of information for tax enforcement purposes,
b
the quality of any such arrangements (in particular, whether they provide for information to be exchanged automatically or on request), F16...
c
the benefit that the UK would be likely to obtain from receiving information from that territory, were such arrangements to exist with it.
F17d
the existence of any other arrangements between the UK and that territory for co-operation in the area of taxation, and
e
the quality of any such other arrangements (in particular, the extent to which the co-operation provided for in them assists or is likely to assist in the protection of revenue raised from taxation in the UK).
5
An order under this paragraph is to be made by statutory instrument.
6
Subject to sub-paragraph (7), an instrument containing an order under this paragraph is subject to annulment in pursuance of a resolution of the House of Commons.
7
If the order is—
a
the first order to be made under sub-paragraph (1), or
b
the first order to be made under sub-paragraph (3),
it may not be made unless a draft of the instrument containing it has been laid before, and approved by a resolution of, the House of Commons.
8
An order under this paragraph does not apply to inaccuracies in a document given to HMRC (or, in a case within paragraph 3(2), inaccuracies discovered by P) before the date on which the order comes into force.
Location of assets etc
21B
1
The Treasury may by regulations make provision for determining for the purposes of paragraph 4A where—
a
a source of income is located,
b
an asset is situated or held, or
c
activities are wholly or mainly carried on.
F241A
The Treasury may by regulations make provision for determining for the purposes of paragraph 4AA where—
a
income is received or transferred,
b
the proceeds of a disposal are received or transferred, or
c
assets are transferred.
2
Different provision may be made for different cases and for income tax F25, capital gains tax and inheritance tax .
3
Regulations under this paragraph are to be made by statutory instrument.
4
An instrument containing regulations under this paragraph is subject to annulment in pursuance of a resolution of the House of Commons.
F23Treatment of certain payments on account of tax
Sch. 24 para. 21C and cross-heading inserted (with effect in accordance with Sch. 7 para. 60 of the amending Act) by Finance Act 2015 (c. 11), Sch. 7 para. 56(3)
21C
Interpretation
I122
Paragraphs 23 to F927 apply for the construction of this Schedule.
I223
HMRC means Her Majesty's Revenue and Customs.
F1023A
“Tax”, without more, includes duty.
F1523B
“UK” means the United Kingdom, including the territorial sea of the United Kingdom.
I324
An expression used in relation to income tax has the same meaning as in the Income Tax Acts.
I425
An expression used in relation to corporation tax has the same meaning as in the Corporation Tax Acts.
I526
An expression used in relation to capital gains tax has the same meaning as in the enactments relating to that tax.
I627
An expression used in relation to VAT has the same meaning as in VATA 1994.
I728
In this Schedule—
a
a reference to corporation tax includes a reference to tax or duty which by virtue of an enactment is assessable or chargeable as if it were corporation tax,
b
a reference to tax includes a reference to construction industry deductions under Chapter 3 of Part 3 of FA 2004,
c
“direct tax” means—
i
income tax,
ii
capital gains tax, F2...
iii
corporation tax, F3and
iv
petroleum revenue tax,
d
a reference to understating liability to VAT includes a reference to overstating entitlement to a VAT credit,
F11da
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
e
a reference to a loss includes a reference to a charge, expense, deficit and any other amount which may be available for, or relied on to claim, a deduction or relief,
f
a reference to repayment of tax includes a reference to allowing a credit F4against tax or to a payment of a corporation tax credit,
F1fa
“corporation tax credit” means—
i
an R&D tax credit under F6Chapter 2 or 7 of Part 13 of CTA 2009,
F18ia
an R&D expenditure credit under Chapter 6A of Part 3 of CTA 2009,
ii
a land remediation tax credit or life assurance company tax credit under F7Chapter 3 or 4 respectively of Part 14 of CTA 2009,
F8iii
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F32iiia
an audiovisual expenditure credit or video game expenditure credit under Chapter 3 of Part 14A of CTA 2009 (expenditure credit in respect of films, television programmes and video games),
iv
F19iva
a television tax credit under Chapter 3 of Part 15A of that Act,
ivb
a video game tax credit under Chapter 3 of Part 15B of that Act, F21...
F22ivc
a theatre tax credit under section 1217K of that Act, F26...
F27ivd
an orchestra tax credit under Chapter 3 of Part 15D of that Act, F29...
F30ive
a museums and galleries exhibition tax credit under Chapter 3 of Part 15E of that Act, or
v
a first-year tax credit under Schedule A1 to CAA 2001,
g
“tax period” means a tax year, accounting period or other period in respect of which tax is charged,
h
a reference to giving a document to HMRC includes a reference to communicating information to HMRC in any form and by any method (whether by post, fax, email, telephone or otherwise),
i
a reference to giving a document to HMRC includes a reference to making a statement or declaration in a document,
j
a reference to making a return or doing anything in relation to a return includes a reference to amending a return or doing anything in relation to an amended return, and
k
a reference to action includes a reference to omission.
Consequential amendments
I829
The following provisions are omitted—
a
sections 95, 95A, 97 and 98A(4) of TMA 1970 (incorrect returns and accounts),
b
sections 100A(1) and 103(2) of TMA 1970 (deceased persons),
c
in Schedule 18 to FA 1998 (company tax returns), paragraphs 20 and 89 (company tax returns), and
d
sections 60, 61, 63 and 64 of VATA 1994 (evasion).
I930
In F12paragraphs 7 and 7B of Schedule 1 to the Social Security Contributions and Benefits Act 1992 (c. 4) (penalties) a reference to a provision of TMA 1970 shall be construed as a reference to this Schedule so far as is necessary to preserve its effect.
I1031
In F13paragraphs 7 and 7B of Schedule 1 to the Social Security Contributions and Benefits (Northern Ireland) Act 1992 (c. 7) (penalties) a reference to a provision of TMA 1970 shall be construed as a reference to this Schedule so far as is necessary to preserve its effect.
Sch. 24 applied (N.I.) (1.4.2008) by The Education (Student Loans) (Repayment) Regulations (Northern Ireland) 2000 (S.R. 2000/121), regs. 7(2A)(b), 26(4) (as amended by S.R. 2008/129, regs. 1, 3(a), 4)