Part 1 Liability for Penalty
Finance Act 2016 (2016 c 24) | Legislation

SCHEDULE 20 Penalties for Enablers of Offshore Tax Evasion or Non-Compliance

Section 162

Part 1 Liability for Penalty

Liability for penalty

1

(1)     A penalty is payable by a person (P) who has enabled another person (Q) to carry out offshore tax evasion or non-compliance, where conditions A and B are met.

(2)     For the purposes of this Schedule—

(a)     Q carries out “offshore tax evasion or non-compliance†by—

(i)     committing a relevant offence, or

(ii)     engaging in conduct that makes Q liable (if the applicable conditions are met) to a relevant civil penalty,

where the tax at stake is income tax, capital gains tax or inheritance tax, and

(b)     P “has enabled†Q to carry out offshore tax evasion or non-compliance if P has encouraged, assisted or otherwise facilitated conduct by Q that constitutes offshore tax evasion or non-compliance.

(3)     The relevant offences are-

(a)     an offence of cheating the public revenue involving offshore activity, or

(b)     an offence under section 106A of TMA 1970 (fraudulent evasion of income tax) involving offshore activity,

(c)     an offence under section 106B, 106C or 106D of TMA 1970 (offences relating to certain failures to comply

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

Third party rights—the common law doctrine of privity of contract

Third party rights—the common law doctrine of privity of contractThis Practice Note discusses the common law doctrine of privity of contract; the equitable and statutory exceptions to it; how the doctrine affects enforcing a contract against a third party and what happens when, notwithstanding the

LEXISNEXIS

HCPC—Main hearing of the Health and Care Professions Tribunal

HCPC—Main hearing of the Health and Care Professions TribunalCoronavirus (COVID-19): This Practice Note contains guidance on subjects impacted by the government’s response to the coronavirus outbreak. In particular, the Health and Care Professions Council (HCPC) (Coronavirus) (Amendment) Rules Order

LEXISNEXIS

Notice of assignment

notice of [assignment OR transfer]To: [insert name of landlord][of [insert address] OR whose registered office is at [insert address] Company number [insert number]][and][To: [insert name of head landlord]][of [insert address] OR whose registered office is at [insert address] Company number [insert

LEXISNEXIS

Forming enforceable contracts—consideration

Forming enforceable contracts—considerationThis Practice Note examines the doctrine of consideration and the key role it plays in English law in determining whether a contract is enforceable.A promise will only be capable of being contractually enforced if it is either made in a deed or made in