SDLTM86720 - Compliance: Penalties

Determination of penalties FA03/SCH14: Alteration to the notice FA03/SCH14/PARA3

After the notice of a determination under FA03/SCH14/PARA2 has been served the determination cannot be altered except in accordance with FA03/SCH14/PARA3 or on appeal.

In a case where, after the determination has been made under FA03/SCH14/PARA2, an officer of the Board discovers that the amount which was taken into account as the relevant amount of tax is or has become excessive, the determination should be revised so that the penalty is set at the amount which is correct; and, where more than the correct amount has already been paid, the appropriate amount shall be repaid.

If an officer of the Board discovers that the amount of a penalty determined under FA03/SCH14/PARA2 is or has become insufficient the officer may make a determination in a further amount. Consequently the penalty would then be set at the amount which, in their opinion, is correct or appropriate.