SCHEDULES

SCHEDULE 22 U.K.Asset-based penalty for offshore inaccuracies and failures

PART 1 U.K.Liability for penalty

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

[F1 6A U.K.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.]

Textual Amendments

F1 Sch. 22 para. 6A inserted (with effect in accordance with Sch. 18 paras. 2-13 of the amending Act) by Finance (No. 2) Act 2017 (c. 32), Sch. 18 para. 28(6)