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The Penalties for Failure to Pay Tax (Schedule 26 to the Finance Act 2021) (Assessments) Regulations 2024

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In force since 2024-12-04, as the publisher states.

Copy read on 2026-11-10. The page it was read from

Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.

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Contents: 3 provisions

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3 provisions

Title and introductory text

2024 No. 1153 CAPITAL GAINS TAX INCOME TAX VALUE ADDED TAX The Penalties for Failure to Pay Tax (Schedule 26 to the Finance Act 2021) (Assessments) Regulations 2024 Made at 1.00 p.m. on 12th November 2024 Laid before the House of Commons 13th November 2024 Coming into force 4th December 2024 The Commissioners for His Majesty’s Revenue and Customs make these Regulations in exercise of the powers conferred by paragraph 16(2) of Schedule 26 to the Finance Act 2021.

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1 Citation and commencement

These Regulations may be cited as the Penalties for Failure to Pay Tax (Schedule 26 to the Finance Act 2021) (Assessments) Regulations 2024 and come into force on 4th December 2024.

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2 Second penalty assessments

(1) HMRC may assess a penalty under paragraph 8 of Schedule 26 to the Finance Act 2021 (second penalty: tax remains due at end of 30 day period) before the end of the further penalty period, where the conditions in paragraph (2) are met. (2) The conditions in this paragraph are— (a) date A is later than (where it applies) date B, where “date A” and “date B” have the meanings given in paragraph 18 of Schedule 26 to the Finance Act 2021 (time limit for assessments), and (b) on a day that is 7 days before date A, the tax due has not yet been paid in full.

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