Suspended penalties | AccountingWEB

Suspended penalties

Simon Sweetman explains HMRC’s new powers to suspend a penalty and discusses the implications for taxpayers and agents.

One of the more interesting aspects of the new powers given to HMRC is the ability to suspend a penalty. Paragraph 14, Schedule 24 FA 2007 says that HMRC may suspend all or part of a penalty for a careless inaccuracy under paragraph 1 by notice in writing to the taxpayer (referred to as P).


» Register now

The full article is available to registered AccountingWEB members only. To read the rest of this article you’ll need to login or register.

Registration is FREE and allows you to view all content, ask questions, comment and much more.


Merry go round

mikewhit | | Permalink

Still not bottomed out the penalty for SATR submitted mid Jan this year (nil tax, too) - there should be a refund for incorrect HMRC penalties !