For commentary on the uncertain tax treatment legislation that requires large businesses to notify HMRC when they adopt uncertain tax treatments from which material tax advantages are derived, please refer to V5.220. The commentary below is concerned with the related penalty regime.
When a person is liable to a penalty for failure to notify uncertain tax treatment
A person is liable to a penalty1 if they fail to give the required notification in accordance with the provisions of FA 2022, Sch 17, paras 8(2)(a) or 8(2)(b). In simplified terms:
- Ìý
•ÌýÌýÌýÌý the notification requirement under FA 2022, Sch 17, para 8(2)(a) arises when at the time a VAT return is delivered to HMRC there is an uncertain tax amount
- Ìý
•ÌýÌýÌýÌý the notification requirement under FA 2022, Sch 17, para 8(2)(b) arises when, after the return is delivered to HMRC, the amount becomes an uncertain amount due to the accounting provision trigger
Full details of these notification triggers are contained
To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to Tolley+™ Research or register for a free trial
Web page updated on 17 Mar 2025 14:52