Penalty assessments
In this section we will look at penalty assessments, suspensions, appeals and other penalty issues.
Once a person has become liable to a penalty for an inaccuracy or understatement, a penalty assessment will be issued.
The following information must be included within the penalty assessment.
- The date of the assessment.
- The legislation under which the penalty is due.
- The amount of Potential Lost Revenue.
- HMRC's view of the taxpayer's behaviour and any reduction for disclosure.
- The amount of the penalty.
- The tax period or claim to which the penalty relates.