Part 4 Procedure
Finance Act 2016 (2016 c 24) | Legislation

Part 4 Procedure

Assessment

15

(1)     Where a person (P) becomes liable for an asset-based penalty under paragraph 1, HMRC must—

(a)     assess the penalty,

(b)     notify P, and

(c)     state in the notice—

(i)     the tax year to which the penalty relates, and

(ii)     the investigation period within which that tax year falls (see paragraph 6).

(2)     A penalty under paragraph 1 must be paid before the end of the period of 30 days beginning with the day on which notification of the penalty is issued.

(3)     An assessment—

(a)     is to be treated for procedural purposes in the same way as an assessment to tax (except in respect

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