CH123600 - Offshore matters: requirement to correct certain offshore tax non-compliance: failure to correct - penalty assessments - double jeopardy

You must check the date from which these rules apply for the tax or duty you are dealing with. See CH123050 for full details.

A person is not liable to a failure to correct a penalty under para 1 of Schedule 18 FA 2017 if

• they have been convicted of an offence relating to the same, or
• are liable to a penalty other than para 1 for which they been assessed and the assessment has not been successfully appealed against or withdrawn.

Penalties other than FTC penalties include penalties due under subsection (5) of section 93 TMA 1970 and Para 6 of Schedule 55 in relation to failure to make a return.

The aggregate of the FTC penalty and any penalty under Para 5 of Schedule 55 which is determined by reference to liability to tax must not exceed 200% of that liability to tax.

Section 67 and Schedule 18 Finance Act (No 2) 2017

Section 93 TMA 1970
Schedule 55 FA2009