SCHEDULES

C1C5C3C2C4C6C7C8C9C10C13C12C11C14C15SCHEDULE 24Penalties for errors

Annotations:
Modifications etc. (not altering text)
C4

Sch. 24 modified (8.4.2010) by Finance Act 2010 (c. 13), Sch. 1 para. 37

C6

Sch. 24 applied (with modifications) (19.4.2013) by The Small Charitable Donations Regulations 2013 (S.I. 2013/938), regs. 1, 15

C7

Sch. 24 excluded (17.7.2014) by Finance Act 2014 (c. 26), Sch. 35 para. 13(a)

C9

Sch. 24 applied (with modifications) by 1992 c. 4, s. 11A(1)(3) (as inserted (with effect in accordance with Sch. 1 para. 35 of the amending Act) by National Insurance Contributions Act 2015 (c. 5), Sch. 1 para. 3)

C10

Sch. 24 applied (with modifications) by 1992 c.7 (N.I.) s. 11A(1)(3) (as inserted (with effect in accordance with Sch. 1 para. 35 of the amending Act) by National Insurance Contributions Act 2015 (c. 5), Sch. 1 para. 12)

C13

Sch. 24 applied (with application in accordance with reg. 1 of the amending S.I.) by The Education (Postgraduate Masters Degree Loans) Regulations 2016 (S.I. 2016/606), regs. 1(1), 85(4)

C12

Sch. 24 applied (with application in accordance with reg. 1 of the amending S.I.) by The Education (Postgraduate Masters Degree Loans) Regulations 2016 (S.I. 2016/606), regs. 1(1), 50(3)

C11

Sch. 24 applied (with application in accordance with reg. 1 of the amending S.I.) by The Education (Postgraduate Masters Degree Loans) Regulations 2016 (S.I. 2016/606), regs. 1(1), 24(3)

Part 5General

F1Classification of territories

Annotations:
Amendments (Textual)
F1

Sch. 24 paras. 21A, 21B and cross-headings inserted (6.4.2011) by Finance Act 2010 (c. 13), s. 35(2), Sch. 10 para. 5; S.I. 2011/975, art. 2(1) (with art. 3)

C1621A

1

A category 1 territory is a territory designated as a category 1 territory by order made by the Treasury.

2

A category 2 territory is a territory that is neither—

a

a category 1 territory, nor

b

a category 3 territory.

3

A category 3 territory is a territory designated as a category 3 territory by order made by the Treasury.

4

In considering how to classify a territory for the purposes of this paragraph, the Treasury must have regard to—

a

the existence of any arrangements between the UK and that territory for the exchange of information for tax enforcement purposes,

b

the quality of any such arrangements (in particular, whether they provide for information to be exchanged automatically or on request), F2...

c

the benefit that the UK would be likely to obtain from receiving information from that territory, were such arrangements to exist with it.

F3d

the existence of any other arrangements between the UK and that territory for co-operation in the area of taxation, and

e

the quality of any such other arrangements (in particular, the extent to which the co-operation provided for in them assists or is likely to assist in the protection of revenue raised from taxation in the UK).

5

An order under this paragraph is to be made by statutory instrument.

6

Subject to sub-paragraph (7), an instrument containing an order under this paragraph is subject to annulment in pursuance of a resolution of the House of Commons.

7

If the order is—

a

the first order to be made under sub-paragraph (1), or

b

the first order to be made under sub-paragraph (3),

it may not be made unless a draft of the instrument containing it has been laid before, and approved by a resolution of, the House of Commons.

8

An order under this paragraph does not apply to inaccuracies in a document given to HMRC (or, in a case within paragraph 3(2), inaccuracies discovered by P) before the date on which the order comes into force.