SCHEDULES
SCHEDULE 22Asset-based penalty for offshore inaccuracies and failures
PART 5General
Consequential amendments etc
I120
1
In section 103ZA to TMA 1970 (disapplication of sections 100 to 103 in case of certain penalties), omit the “or” at the end of paragraph (h), and at the end insert
, or
j
Schedule 22 to the Finance Act 2016 (asset-based penalty)
2
In section 107A of that Act (relevant trustees)—
a
in subsection (2)(a), after “Schedule 55 to the Finance Act 2009” insert “
or Schedule 22 to the Finance Act 2016
”
;
b
after subsection (3)(a) insert—
aa
in relation to a penalty under Schedule 22 to the Finance Act 2016, or to interest under section 101 of the Finance Act 2009 on such a penalty, the time when the relevant act or omission occurred;
c
in the words after paragraph (c), after “paragraph” insert “
(aa) and
”
.
3
In Schedule 24 to FA 2007 (penalties for errors), in paragraph 12 (interaction with other penalties etc), in sub-paragraph (2A) at the end insert “
or Schedule 22 to FA 2016 (asset-based penalty)
”
.
4
In Schedule 41 to FA 2008 (penalties for failure to notify), in paragraph 15 (interaction with other penalties etc), in sub-paragraph (1A) at the end insert “
or Schedule 22 to FA 2016 (asset-based penalty).
”
5
In Schedule 55 to FA 2009 (penalty for failure to make return etc), in paragraph 17 (interaction with other penalties etc), in sub-paragraph (2), at the end insert
, or
d
a penalty under Schedule 22 to FA 2016 (asset-based penalty).