Part 3 Further Provisions Relating to the Requirement to Correct
Finance (No 2) Act 2017 (2017 c 32) | Legislation

Part 3 Further Provisions Relating to the Requirement to Correct

Extension of period for assessment etc of offshore tax

26

(1)     This paragraph applies where—

(a)     at the end of the tax year 2016–17 a person has relevant offshore tax non-compliance to correct, and

(b)     the last day on which it would (disregarding this paragraph) be lawful for HMRC to assess the person to any offshore tax falls within the period beginning with 6 April 2017 and ending with 4 April 2021.

(2)     The period in which it is lawful for HMRC to assess the person to the offshore tax is extended by virtue of this paragraph to end with 5 April 2021.

(3)     In this paragraph “offshore taxâ€, in relation to any relevant offshore tax non-compliance, means tax corresponding to the offshore PLR in respect of the non-compliance.

Further penalty in connection with offshore asset moves

27

(1)     Schedule 21 to FA 2015 (penalties in connection with offshore asset moves) is amended as follows.

(2)     In paragraph 2 (original penalties triggering penalties under Schedule 21) omit “and†after paragraph (b) and after paragraph (c) insert “, and

(d)     a penalty under paragraph 1 of Schedule

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