Schedules
Schedule 14Administration of multinational top-up tax
Part 11Penalties
48Penalties under paragraphs 42, 43 and 46: administration and supplemental provision
1
HMRC must—
a
assess the penalty, and
b
notify the member of the assessment.
2
The assessment of a penalty—
a
is to be treated for procedural purposes in the same way as an assessment to tax (except in respect of a matter expressly provided for by this Schedule),
b
may be enforced as if it were an assessment to tax (save that interest is not to accrue on a penalty under paragraph 33), and
c
may be combined with an assessment to tax.
3
A supplementary assessment may be made in respect of a penalty if an earlier assessment is based on an amount of tax due and payable that is found by HMRC to be an underestimate or insufficient.
4
Sub-paragraph (5) applies if—
a
an assessment in respect of a penalty is based on a liability to tax shown in a self-assessment return, and
b
that liability is found by HMRC to be excessive.
5
HMRC may by notice amend the assessment so it is based on the correct amount.
6
An amendment under sub-paragraph (5)—
a
does not affect when the penalty must be paid;
b
may be made after the last day on which the assessment in question could have been made (under sub-paragraph (7)).
7
An assessment of a penalty must be made before the end of the period of 12 months beginning with—
a
the end of the appeal period for the assessment of the liability to tax shown in the self-assessment return, or
b
if there is no such assessment, the date on which that liability is ascertained or it is ascertained that the liability is nil.
8
In sub-paragraph (7) “appeal period” means the period during which—
a
an appeal could be brought, or
b
an appeal that has been brought has not been determined or withdrawn.
9
A penalty must be paid before the end of the period of 30 days beginning with the day on which notification of the penalty is issued.