SCHEDULES

SCHEDULE 22Asset-based penalty for offshore inaccuracies and failures

PART 1Liability for penalty

Restriction on imposition of multiple asset-based penalties in relation to the same asset

F16A

Where—

a

a penalty has been imposed on a person under paragraph 1 of Schedule 18 to FA 2017, and

b

the potential loss of revenue threshold has been met,

only one asset-based penalty is payable by the person in relation to any given asset.