The suspense might be too much for your client. By Will Heard

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Some more parts of HMRCs proposed tax geared penalties regime are reviewed in the third of Will Heards four articles. This one looks at the proposals for suspended penalties.

In my previous articles I looked at the proposed tax geared penalty regime as it would affect the vast majority of recalcitrant taxpayers mainly in terms of the level of penalties that might prevail in the newly defined classes of misdemeanour.

By 2008, following Finance Act 2007, HMRC will have upped the ante in tax geared penalties for both direct and indirect taxes by providing for penalties covering three classes of misdemeanour which will be set in law at levels that guarantee far higher percentage loadings than hitherto. Although the proposed penalty structure is to be commended the introduction of a mor...

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12th Feb 2007 14:28

Start date
One point that comes to mind is when is the 'start date' for such suspended penalties ?

From the date of the 'offence' as in motoring penalty points, or from the date of the signed undertaking to 'behave himself' - which may be a year or two later if legal processes are involved.

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